Agents support May’s snap election

house of parliament
Estate agents hope the election will bring some economic and political stability to the country

Prime Minister Theresa May’s snap election on 8th June has been widely supported by Estate Agents who hope the election will bring some economic and political stability to the country.

David Cox, chief executive of ARLA Propertymark and Mark Hayward, of NAEA Property Mark released a joint statement in response to the announcement: “All political parties need to put housing front and centre in their election manifestos.  The country is rapidly moving towards crisis point, where a chronic shortage of housing has become unsustainable.  Rather than trying to look at individual issues, it’s time to take an holistic view of housing policy”.

Managing partner of Heaton & Partners, Ed Heaton said the call for an election was ‘a positive’.

He added: “The snap nature of the announcement means that there has been no long build up with buyers and sellers wanting to hold off.  Whilst the outcome is widely expected to be a Tory landslide, the element of uncertainty is limited.  The prospect of five more years of Conservative rules will be seen by many as a real positive”.

Jean Liggett, chief executive of Properties of the World, also believes the poll is good news.  She commented: “The General Election will stamp May’s authority and decrease uncertainty going into negotiations regarding the UK’s exit from the EU.  Markets in the UK dislike uncertainty and crave certainty.  This certainty will positively impact on the UK property market, resulting in increased sales, increased prices or at least no decreases”.

Director of Red Property Partnership, Richie Tramontana said the London property market may witness a small rush from international buyers as the pound jumped 1% against the US Dollar and 0.5% against the Euro shortly after the election announcement.  He added “this may be seen as the bottom of the pound’s deflation and a reason to get back in before the pound climbs further”.

The government has confirmed that its proposed ban on tenant fees will still go ahead as planned however David Smith, policy director for Residential Landlords Association, says the June poll is an opportunity to put housing first.

He said: “Over recent years, the private rental market has been hit by tax hikes, benefit cuts and growing regulations all of which are making it more difficult for tenants to access and afford a place to live.  The same changes have made it harder for good landlords to provide the quality accommodation that tenants have a right to expect and have discouraged further investment in new homes”.

Smith added: “we need a housing market that works for all.  The majority of landlords provide good quality housing and a good service to their tenants.  The political parties need to recognise this and deliver for tenants and good landlords alike”.

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