If Rachel Reeves is going to get Britain building, she also has to get first-time buyers moving.
Their flagship policy is the Freedom To Buy scheme which is basically an unlimited extension of the Mortgage Guarantee Scheme which is due to expire next June. During the election campaign, Labour pledged to help 80000 people onto the property ladder over the next five years, but will this measure prove to be enough?
With the clasp on the public purse welded firmly shut, a return to any kind of Help To Buy Scheme may be out of the question, but the Chancellor has to think creatively on Budget Day if she’s going to coax significant numbers of people out of the private rented sector and into their own homes.
Speaking of which, while the tide may be turning for the housing market, PRS landlords are girding their loins for another potential tax hit on October 30th. There is mounting speculation that Chancellor Reeves is about to raise Capital Gains Tax to match income tax levels.
We all know the one about the two certainties in life – death and taxes, but I think Winston Churchill’s observation is pretty near the mark.
“For a nation to try to tax itself into prosperity is like a man standing in a bucket trying to pull himself up by the handle.”
It’s showtime!
And thinking of first time buyers…the London Home Show makes its return to the QEll Centre in September.
Hosted by Share To Buy, it’s aimed directly at first time buyers.
The event is free to attend and provides visitors with info on various buying schemes and products all designed to help them get on to the property ladder.
With over 70,000 guests through the door since the first event in 2013, over 40 exhibitors will be there from homebuilders to mortgage brokers.
And there’ll be 20 live sessions throughout the day across three categories: Housing, Financial and Legal.
It’s a ticket only event so if anyone wants to go, they can register for their place here
Our survey says….
Congratulations to Fine and Country who are, according to a YouGov survey, the most recommended national estate agency brand for the second year running. Apparently, the research, carried out by marketing consultants We Are Unchained, found 91% of Fine and Country clients would recommend the brand to a friend or colleague.
Others who did well included Knight Frank, Bridgfords, eXp, Your Move, Reeds Rains and Savills – all achieving recommendation rates over 80%.
A little less conversation…
A heartwarming story appeared in Estate Agent Today this week about Lisa Knight, branch manager at John D Wood & Co, Beckenham. Lisa set up a GoFundMe page to raise cash to send road sweeper Paul Spiers to Portugal to celebrate his 67th birthday.
Paul has been keeping the streets of Beckenham spick and span since 2017, playing Elvis music to provide a cheer to passers-by.
He had traveled abroad only once before – to Portugal and desperately wanted to return. Lisa set up the fund to make that dream come true and raised an incredible £3,000 – presumably from members of a grateful community who felt the same way.
But Paul’s employer, Veolia say company rules prevent him from accepting the donation – no gifts or incentives beyond his regular salary.
She said: “We’re deeply disappointed that this decision prevents Paul from enjoying this well-deserved holiday as a recognition for all his hard work for the Beckenham community.
“We have expressed our disappointment to both the council and Veolia and intend to continue to push on this, but please rest assured, if we are unsuccessful in doing so, you will all be refunded.”
Bromley Council says the issue lies with the employer.
Come on, Veolia – It’s Now or Never.
Until next time,
N
If you’ve got a story you’d like me to Natter about, drop me a line at press@estateagenttoday.co.uk