General election: 4 changes that could help home-movers š
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With just a few weeks to go before the General Election, Rightmove predicts 4 changes that could help home-movers...
1. Speeding up house-building to increase much needed supply
š¹ Put simply, more new homes are needed
š¹ To buy, demand is up 15% compared to 2019 and at the same time, available homes are down 6%!
š¹ To rent, demand up 32% compared to 2019 and at the same time, available homes are down 38%!
š¹ If new houses are built more quickly (whilst maintaining quality), these high demand levels can be better met
2. Stamp Duty changes and better borrowing options for First-time Buyers (FTBs)
š¹ The current level of stamp duty for a First-time Buyer is 0% up to Ā£425,000 - however, this is due to end in April 2025
š¹ A General Election is a huge opportunity for a new Government to come in with fresh ideas for better borrowing, and make any stamp duty relief for FTBs permanent
š¹ You can check the current stamp duty rates here
3. Incentives to help people make their homes greener
š¹ Home-owners need better and easier access to schemes that enable them to make green improvements, the current upfront costs are a significant barrier for most home-owners
4. Simplifying and speeding up the home-buying process
š¹ It is currently taking an average of more than 7 months from when someone puts their home up for sale until they move
š¹ A new Government has the chance to do something about it: by speeding up the home-moving process to encourage a less stressful and more seamless process for home-movers
Click here for step-by-step guide to selling your home. For further advice, contact our Head Valuer Lisa (lisa.dahl@cavendishproperty.co.uk) for everything you need to get started š¦
šø Lisa Dahl-Parsisson, Head Valuer and Asset Manager at Cavendish Residential šø
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