Propertymark has unveiled its Budget Manifesto, which lists the 10 changes they are asking the government to make to support the housing sector ahead of the next Budget.
Propertymark has unveiled its Budget Manifesto, which lists the 10 changes they are asking the government to make to support the housing sector ahead of the next Budget.
The 10 changes include extending the cut to stamp duty, expanding Help to Buy to the second-hand homes market and establishing a mortgage guarantee scheme for key workers.
Propertymark are also calling on the government to restart the empty homes community grants programme, provide a financial support package for the private rented sector and to raise local housing allowance. Ensuring universal credit is adequate and more effective, re-open courts to deal with the backlog of housing cases, supporting investment in the private rented sector and build more social housing complete the calls to government featured in the manifesto.Mark Hayward, chief policy adviser at Propertymark, said: “It’s been an unprecedented year for everyone and this includes the housing sector.
"The property market has remained remarkably resilient during the lockdown periods so far and the government has prioritised a functioning property market.
"However, there is still progress to be made and we’re calling upon the government to make these recommended changes in order to continue to support agents, landlords, consumers and the wider housing market.
“We’re particularly concerned about the impact of the stamp duty holiday ending with a cliff edge in March as this could cause thousands of sales to fall at the final hurdle and have a knock on and drastic effect on the housing market which has recovered well from the COVID-19 slump.
"Similarly, with the furlough scheme coming to an end in April, we’re growing increasingly worried about the financial fallout from the COVID-19 pandemic.
"We know that many tenants are already struggling to afford rents which in turn has left landlords without a source of income.
"The government must introduce a financial support package to help support tenants and therefore landlords who have had their incomes impacted by COVID-19.”
