Conservatives need to be more inclusive
The Conservatives are going to have to work to be more inclusive over the next couple of years says Jonathan Newman, senior partner at Brightstone Law.
This comes as the shock election result was revealed on June 9, which has since seen the Conservatives form a government with the support of the Democratic Unionist Party (DUP).
This could lead to a different Brexit than expected, and perhaps create unforeseen changes that will have a positive impact on the property market.
Newman said: “We are going to get something a little bit more inclusive as Conservatives are going to have to give themselves a chance over the next two years.
“We may have a softer Brexit and have a concentration on something important, and they get momentum and success going. They can’t play around with interest rates, I think gut feeling they are going to have to do something with stamp duty and if they do that it is very positive.
Tomer Aboody, director at MT Finance, added: “A hopeful softening of stamp duty on second home purchases and high end valued properties, would in turn provide a trickling down effect from the upper to the lower end.
“A change in stamp duty would increase the ability for purchases, and would give confidence back to the property market. Whether this happens this year is obviously hard to predict.”