May 15
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General Election 2015: The property market is freaking out
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Published by City A.M. on Tuesday, 05 May 2015 by Emma Haslett
The property market is terrified of Labour-led government, one of the UK’s largest property search websites has suggested, thanks to the prospect of falling house prices and rising interest rates.
According to Zoopla, Labour’s policies on the housing market, which include giving councils the power to double council tax on homes left empty for a year and giving first-time buyers priority access to new homes, will “make UK property a generally less attractive investment”.
Labour has also pledged to introduce a mansion tax on homes worth more than £2m, although it will also abolish stamp duty for first-time buyers.
