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What does the election mean to you and your property?
With the election taking place on Thursday 7th May, indications show that there will be changes to the property industry. Here are the five you need to know.
Labour
Ed Miliband says a Labour government would exempt stamp duty for first-time buyers when purchasing homes below £300,000, for three years. Most interestingly, they also pledge that they will ban lettings agent fees and make three year tenancies the norm. What does this mean to you as a landlord?
Conservative
David Cameron pledges that they the right-to-buy scheme will be extended to allow 1.3 million housing association tenants the opportunity to buy their homes. £1 billion will be spent as well to regenerate brownfield sites over the next four years.
Liberal Democrat
Nick Clegg claims that his party will introduce a new ‘help to rent’ and ‘rent to own’ schemes to encourage more people to get onto the property ladder and will build 300,000 new homes by 2020.
Green
Leader of the Green party, Natalie Bennett says that the party will build 500,000 social rented homes by 2020 and will reduce VAT on housing renovation and repair work.
UKIP
Nigel Farage says that the UK Independence Party pledges that they will remove stamp duty on the first £250,000 of new homes built on brownfield sites and will build one million homes on brownfield land by 2020.
We would love to hear your views on the above, and as your local estate agent in Birmingham we are able to advise you on what this means to you and your property. To keep up with the latest manifestos that can affect the property market contact James Laurence Sales and Lettings today on 0121 604 4060 or visit our website
