Zoopla warns of risk to property prices if Labour wins

Richard Carr has previously spoken of the negative impacts that a Labour win would have upon UK citizens’ lives and now property expert Zoopla has warned that thousands of pounds could be wiped off the value of homes if Ed Miliband gains power.

Warning

Richard Carr Ed Miliband Stone

Ed Miliband’s pledge stone

Featured on the Express’ website earlier this month, Zoopla explained how Ed Miliband being in charge of the country could “spell trouble” for first-time buyers, whilst Labour’s “mansion tax” on larger, more expensive homes would have a knock-on effect across the whole market.

Ed Miliband’s Labour party are also opposed to the Conservative’s Help-to-Buy scheme and a new ISA which would provide bonuses for people saving for a housing deposit.

Zoopla said: “This could limit the support offered to aspiring first-time buyers, and eventually kill off the initiative.

“Additionally, the party’s proposed mansion tax will likely have significant consequential effects on the entire housing market, not just those properties valued at more than £2million.

“The side-effects of the tax would include a reduction of prices at the top end of the market, as well as deterring foreign investment and driving increased competition for middle-class families below the threshold where there is already a shortage of stock.”

Recovery

Under the Conservative’s, the housing market has made great strides and based on their proposals for a new term, that looks set to continue. However, Labour’s tax on homes and restrictions on some first-time buyer support systems could create uncertainty and cull the confidence in the market.

Tory housing minister Brandon Lewis further explained: “Labour haven’t learnt their lesson – they want to cut schemes to help people to buy a home, make it more expensive to build, and would borrow more money.

“Thanks to our long-term economic plan, housebuilding in England is at its highest level since 2007.

“Our schemes are helping hundreds of families every month to buy their own home and we will go further by allowing new homes to be built specifically for young first-time buyers.”

One day to go

As Richard Carr has said before, he believes that if you’re a homeowner then you should be voting Conservative – unless you are happy to see the price of your property reduce. Make sure you vote, just one day to go!