What does this mean for the UK investment property market and how do political policies effect investors and landlords buying now?
The Brexit Agendas
Generally, with the conservatives campaigning for Brexit, Labour for a second referendum and the Lib Dems (no chance of winning but may end up in bed with Labour) campaigning for remain we’re either headed for Brexit or a second referendum. We know the result of the first one, so nothing changes there.
So, should property market policies of the parties involved make us think twice about investing? Lets see if anything has changed.
Labour on property
Labours plans are fairly typical of the party and focus on large scale property companies, building more affordable housing, and helping renters to buy. Their two main policies look to bring blocks owned by private corporations into public ownership and to build more affordable housing. It’s long been our policy that modular construction is a great way for private investors to get more value from their properties. Learn more on this sector: Residential Buy to Let: How Does it Work which can be owner occupied, bought off-plan to sell on completion, or used as an asset to earn a high annul yield from rentals. In summary, Labours plans largely leave individual landlords position unchanged.
The Conservative on property
The Conservative party’s policies were equally uneventful for private landlords, with their only policy in the sector being to allow homeowners more rights to change properties without planning permission.
The Liberal Democrats on property
There were not any advances on housing policies under the party’s new leadership which contributes to the likeliness Liberal Democrats, have a slim to no chance of getting into power on their own, so, in the event of an equally unlikely coalition they will be looking to increase the Local Housing Allowance in line with local rents, which is great news for landlords who rent to tenants in receipt of benefits.
So, to sum it up
The Conservatives, look like strong favourites to win; working with a Brexit majority and facing a Lib Dem and Labour split vote. So, it’s likely four more years of Boris and there’ll be no change at all. Beyond that it seems like no one wants to annoy landlords too much in such an important election. With all parties singing off a similar hymn sheet and current or new policies not making any detrimental advances towards smaller residential landlords and investors, the election shouldn’t make any difference to residential investment. Moreover, for those investors looking at a more alternative investment, such as Student Accommodation, the UK governments 11th September 2019 announcement of post-study work visa for international students indicates to invest sooner rather than later. Read full article: Why you should buy student property before the general election