Labour and Lib Dem manifestos – ‘Lack of focus on stamp duty and moving reform’
Following the launch of the Labour Party and Liberal Democrat manifestos this week, Build to Rent expert and director of LetsBid Property, Milton Rodosthenous, says that both parties’ policies lack focus on the key issues of stamp duty and reforming the homebuying and selling process.
“The housing sections of the election manifestos from the Labour Party and the Liberal Democrats lack focus on reforming the homebuying and selling process which is crucial to helping people to move home, get on the property ladder or downsize,” he says.
“In recent months there have been some good ideas from the Ministry of Housing, Communities and Local Government, including introducing reservation agreements and regulating property agents. It would be disappointing to see these initiatives fall by the wayside after the general election.”
“The manifestos’ focus on providing affordable homes is welcome, however the emphasis on housebuilding targets is perhaps misguided as these targets have been missed by numerous administrations over many years.”
“The supply of homes is of course an issue which needs addressing, but it is not the only factor which could stimulate the housing market and make home ownership more seamless and attainable,” adds Rodosthenous.
“For example, neither manifesto mentions stamp duty and how it could be reformed to create a less stagnant and fairer market.”
“In the short-term, the government must focus on resolving Brexit so confidence in the housing market and economy can be rebuilt.”
“In the long-term, there will need to be a concerted effort to address housing supply issues, make the moving process more efficient and to embrace technology and alternative buying and selling options such as the Modern Method of Auction.”
“We now await the Conservative Party’s election manifesto with anticipation to see how Boris Johnson’s party is pledging to improve the housing market,” he concludes.
LetsBid Property has partnered with over 150 estate agents to list over £30 million of property for sale.
