Conveyancing Association response to General Election 2015 result

Eddie Goldsmith Chairman of the Conveyancing Association, on the result of the General Election said today:

“The Conveyancing Association has welcomed the strong focus on housing issues throughout the election campaign and the recognition from all parties of the importance of this issue. Whilst the prospect of an uncertain result did seem to cause a slowdown in the housing market, the result today suggests that people will have more confidence to move home.

“The priority for the new Government must now be to continue to foster stability in the housing market, as the economy continues to recover. We welcomed the previous Government’s policies of promoting home ownership through policies such as Help to Buy and the reform of the Stamp Duty system, which were positive reforms. We would also like to see the Government keep its pledges to substantially increase the supply of new homes too.

“While the economic situation continues to improve steadily, with falling prices and rising wages, it also remains critical that the Bank of England continues to take a cautious approach to interest rates. While we expect them to rise at some point the CA would like to gradual increases rates over a period of time and giving people time to adjust to the new landscape and manage their finances accordingly.”