Rightmove comment on Labour election win

Rightmove logo

Commenting on the election result, Tim Bannister, Rightmove’s property expert said: “The certainty of having the next government in place will be good for the market, and we wait to see the housing policies that are prioritised. We can see in our data that in previous election years, there has been a slight bounce in home-mover activity after an election has taken place – so the same could happen this year in the short term, particularly against a background of a potential Bank Rate cut on the horizon, and lowering mortgage rates.

“It is crucial that the government considers the impact of any new policies on the wider market, as a policy designed with one group in mind often has knock-on implications for another group of home-movers. Earlier this week Rightmove quizzed Keir Starmer about what he would do to help housing, and it’s encouraging to see that Labour’s manifesto focused on building more homes and planning reform. Creating more homes for sale and for rent quickly, whilst maintaining quality is a pressing issue, to ensure there are more homes to meet the demand.

“We think there is an opportunity to go further in giving support to first-time buyers. Whilst a permanent mortgage guarantee scheme provides the certainty that this option will be available, from our research we can see that only a small number of first-time buyers are likely to benefit from it. Making the existing stamp duty thresholds permanent for first-time buyers would be a start, and then there is an opportunity to look at innovative solutions to help first-time buyers with both their deposit, and being able to borrow enough from a lender in the longer term.”

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

You May Also Enjoy

Estate Agent Talk

Top Tps For Buying Your First Property

Buying your first property is an exciting milestone, but it can also be overwhelming. With the right knowledge and preparation, you can navigate the process smoothly and make informed decisions. Here are some top tips for first-time property buyers in the UK, designed to be simple and easy to understand. Top Tps For Buying Your…
Read More
Estate Agent Talk

How much less can you expect if you sell your house for cash in 2024

When selling a house in the UK, opting for a cash sale often means accepting a lower price compared to a traditional open market sale via an estate agent. This reduction is down to a few factors including convenience and the speed of the transaction, which can be highly attractive to sellers looking to cash…
Read More
Rightmove logo
Estate Agent Talk

Rightmove’s weekly mortgage tracker

Headlines   The average 5-year fixed mortgage rate is now 4.97%, down from 5.91 % a year ago The average 2-year fixed mortgage rate is now 5.35%, down from 6.42% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.97%, down from 5.90% a year ago The average 60% LTV 5-year…
Read More
Estate Agent Talk

Preparing Your Essex Home for Sale: A Step-by-Step Guide

Selling your home can be a complex process, but you don’t have to navigate it alone. Experienced estate agents in Loughton and across Essex play a crucial role in helping you prepare, market, and sell your property. Their expertise and local knowledge can streamline the selling process and maximise your chances of a successful sale.…
Read More
Estate Agent Talk

Optimising Your Property Investment With Financial Expertise

Property investment can be rewarding, especially when approached with the right financial expertise. A well-planned property investment strategy, supported by professional advice, can significantly enhance your returns and minimise risks. Ready to learn more? Keep reading as we share tips on optimising your property investment with financial expertise. Leveraging Mortgage Brokers For Success Mortgage brokers…
Read More
Breaking News

Breaking Property News – 09/07/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Fine & Country increases international marketing and growth focus   Premium estate agency, Fine & Country is increasing its focus on international growth by launching new marketing initiatives to support its existing international network as well as expanding into new markets. This underscores Fine & Country’s commitment…
Read More