The fact that the Conservative Party has won the general election with a clear majority has important ramifications for the property market.
Gone is the spectre of a mansion tax on £2million plus homes, gone is the potential for increased taxes, gone is the uncertainty for business and international investors. Welcome to a new dawn of stability, the encouragement of wealth creation, foreign inward investment, tight public spending and lower taxes.
The manifesto commitment by the Conservatives to build more new homes and continue with the Help to Buy scheme offer further positives.
George Osborne has further re-iterated the party’s commitment to developing the Northern Powerhouse – further positive news for our region.
Property analysts are already predicting the biggest growth in housing prices to be outside the capital and suggest that the market overall will gain momentum.