Will There Be Property Sector Risks with Government Shifts?

As the elections on July 4th draw near, those of us in the property sector are keen to see what the new government might bring. Leadership changes often herald housing policy shifts, which can change our day-to-day dealings.

Take a trip down memory lane to 1997 when Tony Blair's Labour got into power. They came up with big ideas to rejuvenate public housing and make owning homes all the easier. Although their intentions may have been good, the pace of change was slower than many anticipated, leaving promises unfulfilled.

Gordon Brown’s time as Chancellor before he became Prime Minister saw major changes in how homeowners were taxed. Stamp duty, which was a minor irritant at just 1% before Labour came into power, turned into a hefty tax under his watch.

This change was meant to take advantage of rising property prices. However, instead, it ended up being a heavy chain around the neck of many, dramatically slowing down the number of people willing to move homes. By the end of his stint, this tax wasn’t just a small part of the treasury’s income; it had ballooned to nearly ￡4bn.

Over the past 14 years, we've seen a quick turnover of ministers, each spending too little time to make a lasting impact on the sector or even learn sufficient about it.

A batch of new MPs is coming in soon, many of whom will lack experience in mainline politics, never mind housing; there's a real mix of hope and nervousness about the type of changes that history suggests they will be introducing.

This Thursday at 10 am, our 'Property Quorum' podcast will delve into these topics. We'll have Chris Gilsenan from Root Home , Juliet Baboolal LLB (hons), LLM construction from gunnercooke , and Gareth Wax of Many Purple Hats Ltd presiding. Joe Eden from Bridgemore Capital & Nova Homes will also join us, offering insights on potential investment shifts. We’re looking to unpack how the election outcomes might affect us and if there are any strategies we might consider adopting.

Keeping up with constant evolution in the property sector is so important. Joining conversations like the one on 'Property Quorum' can really broaden understanding and help prepare for what's coming. These chats are a great way to share experiences, toss around ideas, and sketch out how to handle the changes the political world throws at us.

Staying ahead in the property game means being proactive and well-informed. Keeping ears to the ground and listening to thoughtful discussions helps find ways through new policies and market shifts as they happen.

Staying connected and strategic helps meet upcoming challenges head-on and take any opportunities that arise, making it easier to adapt and excel in the ever changing landscape of housing and property.

Live on LinkedIn at 10am, or settle down later and watch the recording at a time more suitable for you.