https://www.hudsonsproperty.com/sales/new-homesFrom the debate on Right-to-Buy, to the revolution of energy-efficient homes; the 2019 General Election result will play a key role in how the next generation will live and how they’ll make property investments.
The big question is however; how will promises made by parties affect the housing market? And ultimately influence home-owners, tenants and even the homeless living in the UK.
There’s always been a demand for new homes in the UK, putting pressure on the government to uphold any pre-election promises. But with the Conservatives and Liberal Democrats both promising to build 300,000 new homes by the mid-2020s, will they be able to uphold their pledge? First-time buyers may have more opportunities to buy going forward, leading to a boom in new home sales.
Right-to-Buy schemes greatly help families gain footing on the housing ladder. After two years, council tenants have the option to buy their property, with reductions in mortgage prices being as high as 60%. But with parties proposing big changes for the scheme - Labour wanting to scrap and the Conservatives looking to keep it in place - the result could possibly lead to tenants paying full prices. If you have a local authority or public-funded landlord, it’s best to keep an eye on their post-election plans.
It’s no surprise that many new homeowners are on the lookout for green homes with energy-efficient capabilities. LED lighting, solar panels and triple glazing are just a few features you can find in a green home now; saving homeowners lots of money on energy bills and helping the planet one property at a time.
If you like the idea of reducing your carbon footprint, you’ll be happy to know that the majority of parties have made green home pledges. The Liberal Democrats are pledging to supply solar panels on all newly built homes and the Conservatives state they’ll put an astounding £9.2 billion towards improving the energy efficiency of homes and public buildings.
Many homeowners will be happy with the proposition of scrapping bedroom tax. Alongside the media, this is a topic parties including Labour and the Liberal Democrats have been investigating for a while. It’s finally come down to the big election reveal though to see if the “under occupancy tax” will be removed for homeowners who have one or more spare bedrooms.
These are just a few of the promises being made in the lead up to the 2019 General Election. No matter what place you take in the housing market, it’s a great idea to look at the proposals to check if you'll be affected. These changes could have you leaping with joy or replanning for 2020!
For expert property advice or any help buying, selling, letting or renting; contact us today to speak to a member of our team.