Industry welcomes election outcome and the release of pent up market apprehension surrounding political landscape

Director of RIFT Research and Development Ltd, Sarah Collins, commented:

“The political landscape is now more certain than it’s been since 2015 and the Government’s stance on tax reliefs such as R&D tax credit will, we trust, continue. Over £4bn in such support is provided each year in addition to SEIS/EIS and Entrepreneur’s Tax Relief and this, in our view, helps fuel the economy and stimulate British business. Something that is much needed given the turmoil endured over the last few years.”

Director of Benham and Reeves, Marc von Grundherr, commented:

“Forget political alignments for the minute, as we finally have a sense of certainty on which we can move forward as a nation, and while the curtain is far from falling on the rollercoaster that has been our European departure, we should see a fair degree of positive property market stimulation as we enter into next year.

The sluggish one percent annual rates of house price growth that have plagued the market for the last few years should now give way to a far healthier three to four percent.

It may take time to reverse the more negative trends we’ve seen across London, however prime central London, in particular, should now lead the way with some very healthy levels of activity and price growth. That is, of course, provided the unnecessary attack on foreign investment in the form of a 3% hike in stamp duty is reneged upon, as this would be a poor way to repay those that have kept the market’s head above water by way of a consistent level of investment during some otherwise tough times.”

Founder and CEO of Stone Real Estate, Michael Stone, commented:

“While the Government’s track record of late has been fairly admirable with some 241,000 new homes delivered this year, there’s always room for improvement, and now the election dust has settled we should hopefully see an unhindered route to delivery and a positive impact on social housing given that it is linked via S106 agreements.

We’ve seen many big housebuilders operate on a more hands-off basis of late, largely due to a lower rate of house price growth and a fear of financial underperformance in tough market conditions. However, the new build sector has actually been the silver bullet against Brexit uncertainty with those opting to enter the fray rewarded with consistent levels of buyer demand and buoyant sold prices to match.

With things only about to get better, the new build sector can expect a busy time over the coming year as pent up market apprehension surrounding our political landscape is relieved to a degree, and more homes are built, more homes are bought, and market sentiment receives a well-needed boost. ”

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

Breaking Property News – 23/07/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Referral system earns agents up to five figures in additional revenue With an extensive Membership of independent estate agents throughout the UK, The Guild of Property Professionals is one of the UK’s largest property networks. Leveraging this extensive reach and influence, Guild Members are…
Read More
Love or Hate Rightmove
Breaking News

Rightmove: Rents hit new record, as average property receives 17 enquiries

Average advertised rents outside of London rise to a new quarterly record of £1,314 per calendar month (pcm), now 7% higher than last year (£1,231 pcm) London rents have also risen to a new record of £2,661, now 4% higher than last year (£2,567 pcm), with rent growth steadily slowing since the peak of 16%…
Read More
Breaking News

Breaking Property News – 22/07/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   PriceHubble’s desktop valuation solution passes external audit for compliance on  EBA loan guidelines Press Release July 2024 — PriceHubble, Europe’s leader in property data solutions for finance and real estate, is pleased to announce that its desktop valuation solution has successfully passed an external audit…
Read More
Quick ways to add value to your property
Estate Agent Talk

5 Key Provisions of the Real Property Tax Act You Should Know

FIRPTA is an acronym for Foreign Investment in Real Property Tax Act. It’s a United States’ federal tax law that imposes taxation on the proceeds realized from the disposition of real estate assets held by foreign persons. FIRPTA was enacted in 1980 and is part of the Omnibus Reconciliation Act of 1980. The act mandates…
Read More
Breaking News

Foxtons Lettings Market Index – June 2024

Activity across London begins to pick-up in the summer market • Applicant demand rises by 15% month-on-month as the peak lettings season begins • Budgets continued to rise, reaching an average of £547 (per month), the highest in recent years and 2% higher year on year • Average rental prices remain stable on a month-on-month…
Read More
Estate Agent Talk

Beresfords presents expert insight on the post-election property market under Labour’s commitment to ‘Get Britain Building Again’

With the Labour Government winning the UK election, Property Group, Beresfords, believe that the landscape of the UK property market is set to remain robust and move forward positively into the second half of the year, as the party supports a ‘One Nation’ housing policy. As an award-winning Estate Agency buying and selling more property…
Read More