By Bea Patel, Property Editor and Director of Shop for an Agent, the estate agent comparison site
It’s not surprising that the political parties’ are including housing as a key policy in their manifesto for the upcoming election tomorrow. We’re in the midst of a housing crisis, with half the number of homes being built each year, supply has exceeded demand. The general election results will have a huge impact on the housing industry, buy-to-let and first time buyers.
Peter Vinden, Managing Director of The Vinden Partnership said: “Housing is perhaps the most contentious of the major construction policies, but all parties seem to be united in their mission to plug the dire shortage of homes throughout the UK.
“The major candidates are all making compelling cases for combating the continued problems of stranded assets and the limited supply of new homes, but the voter is still not getting a great deal of insight into where the real need for housing lies. The issue of residential demand within the UK’s major cities has been absent from many of the manifestos, with a great deal of focus on expensive and ambitious regeneration schemes.
“The nature of an election campaign means candidates are forced to be top-line, but what we really need is a government that can manage expectations and think practically. My hope is that whichever partnership is elected tomorrow, the new coalition will not only address the current shortage, but commit to long-term planning that can meet the needs of the British people.”
Michael Bruce, CEO of hybrid estate agency Purplebricks.com, said: “It is interesting for the first time that the political parties have used housing as part of their main manifesto pledges.
“We live in hope that they genuinely believe that we should help the people of our country achieve their dream of owning their own home without them having to do so by gambling their entire financial future on the mortgage payments.
“House building across the UK will bring about a much more affordable house price balance and less risk of personal financial instability for our people.”
The infographic below by Keepmoat highlights the key housing pledges made by the main political parties.
The infographic below by Direct Line for Business explains what could happen to landlords following the election.