So what did the Conservative Party promise the property world after the general election in 2015?
- More incentives to make homes more energy efficient and phase out hydrofluorocarbons (an alternative to CFCs which are powerful greenhouse gases). Perhaps this will give a boost to the attendance at the ECO Fair being hosted by The West & North Yorkshire Chamber at Elland Road in Leeds on June 18th?
- Promotion of development on brownfield sites. This is land which was formerly used for industrial or commercial use which may have some contamination on it. There may therefore be further changes to the Permitted Use legislation which makes it easier to change the use of some sites. Good news for developers?
- Establish more green belt land with tighter development rules. This is land where urban development is restricted. They plan to encourage communities to get involved in neighbourhood planning so that people will have more of a say in what development takes place nearby.
- More rights for social housing tenants to own part of their home through the shared ownership scheme along with the Right to Buy offered to council tenants being extended to housing association tenants. This will increase the income for the housing providers but will take the property out of their general letting stock. Will this increase the demand in the private sector or will the housing providers be able to replace their stock?
- Further reform on the Common Agricultural Policy (see the current plans for this year and beyond by following this link https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/406212/CAPLF005v10_WEB.pdf
- Consideration of further reductions in stamp duty
The Queen Speech on the 27thay will give us a lot more detail on the legislation changes we can expect. I imagine there may be something about a European Referendum in there too.
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