7
Nov
GUY FAWKES WAS RIGHT
Looking at some explosive ways to get the market moving this
autumn.
Guy Fawkes’ Night may have been and gone for this year,
but this famous historical figure was right – up to a point.
The bit about assassinating the sovereign was certainly a step too
far, as he found to his cost, but sometimes it does seem that
parliament needs a rocket under it, metaphorically speaking.
Now is one of those times. We need to see workable ideas from
both sides of the House that will help kick-start the property
market and get it moving again after being becalmed for four long
years. We really do not want to spend a fifth or sixth year in the
doldrums. It is no good for the country and no good for us, or for
future generations.
We also need policies that will drive more social housing and
more ‘buy to rent’ schemes through housing
associations. We need a compassionate view of housing and an
enlightened approach to maximising Brownfield opportunities while
protecting, wherever possible, our precious green fields.
Another idea could be to reduce stamp duty. In its current form,
house buyers are paying a great deal of money to the Exchequer just
for the privilege of moving. This is in addition to the 20% VAT
received from almost everything connected with moving home. With
housing transactions now 50% below the norm, reducing stamp duty
could give the market a real shot in the arm and should benefit all
- including the government.
So we hope this year, as we remembered the 5th of November, that
the political parties feel the heat of fatigued would-be
home-makers and house buyers. It is time to put a bomb under the
banks and lenders so that they start being more realistic with
mortgages and lending criteria.
In short, we can well do without gunpowder and treason but we do
need a good plot to get the property market moving again.