Commenting on the result of the General Election and its implications for the UK’s housing market, the chairman of the Conveyancing Association Eddie Goldsmith said:

“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 schemes such as Help to Buy and the changes to the Stamp Duty system, which were positive reforms.  We would now 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 in this parliament, the CA would like to see gradual increases over a period of time thereby enabling people to adjust to the new landscape and manage their finances accordingly.”