The General Election result was a surprise to many. And, it has been predicted that the UK housing market is expected to boom under the Tory Government.

Will the Conservatives stand by their manifesto and become the “party of homeownership”? Well, so far, so good. Since the General Election Results, the luxury sector has boomed! According to statistics, estate agents in more affluent areas of London were hectic as they saw a surge in properties being launched to the market as individuals who had intention of selling were no longer afraid of the Labour Party enforcing a mansion tax on properties over £2million. The General Election result must have come as a relief to private landlords too as Labour pledged to introduce rent controls and a national landlord register.

In the lead up to the General Election the Conservative Party put the “Right to Buy” ideal to the forefront of their manifesto, so what do they mean by this?

  • The Tories have extended the Help to Buy Scheme until 2020 which is expected to cover over 120,000 homes.

  • The Tories announced the Help to Buy ISA to help first time buyers find their feet on the property ladder. The Help to Buy ISA is expected to come into playing during Autumn 2015.

  • The Tories have also pledged to build 200,000 new “Starter Homes” which will be exclusively available for first time buyers and 275,000 affordable homes by 2020.

  • The Tories have also enforced the Brownfield Regeneration Fund. A fund of £1billion to help councils build on previously developed land to aid the construction of new homes.

Has the General Election held you back from putting your house on the market? If you are thinking of selling and are in need of an estate agents in Cheltenham. Contact Cook Residential Estate Agents Cheltenham for a free, no obligation valuation of your home. Call 01242 500259 or send us a quick message via our enquiry form.