Nine in 10 say housing market held back
The conveyancing firm said improved confidence from sellers in the wake of the decisive election result would result in increased stability and predictability, delivering more confidence and pushing the number of house sales up.
A quarter of property professionals attending the conveyancer’s annual conference this week who were surveyed by the firm bemoaned the lack of mortgage availability, reflecting concern that affordability rules have put the kibosh on a large swathe of lending to older borrowers.
Meanwhile 16% said that a lack of new build properties was holding back the market, reinforcing the need for developers to keep building.
There was strong support from myhomemove’s conference delegates for extending the Help to Buy scheme for new build purchases to 2020. A strong majority of 80% of respondents supported the policy.
There was also strong support for the party’s starter homes scheme, with 65% supporting it and just 3% opposed.
Doug Crawford, chief executive of myhomemove, said: “Property professionals coming to our annual housing conference are clearly concerned about the obstacles that are holding back property transaction numbers.
“The good news is that the decisive election result could provide a confidence boost to consumers that will mean more properties are put on the market.
“The main housing policies outlined by the new Conservative Government in its manifesto are, for the most part, popular within the industry. The question now is whether the Government can deliver on its promises and how quickly it can do so.
“Some policies, like extending Help to Buy, are far simpler to deliver than others, like the proposed Right to Build scheme.”