By Grant Brooks – MD Edwards Estate Agents
What can Dorset Home Buyers and Sellers Expect From a New Labour Government?
As the Labour Party swept to power on the 4th of July’s General Election in a landslide victory over the Conservatives, a sizable chunk of Dorset’s blue wall has been removed with parliamentary constituencies of Bournemouth East, Bournemouth West, Poole and South Dorset all electing Labour MPs and Mid Dorset & Poole and West Dorset both electing Liberal Democrats. The Conservatives held on to Christchurch, New Forest West & East and North Dorset.
Our local Christchurch MP Sir Christopher Chope (Conservative) retained his seat for the eighth time since first being elected in 1997, Sir Christopher polled a significant 16,941 votes over his closest rival Lib Dem Mike Cox with 9,486 votes.
Speaking after the results were confirmed, Sir Christopher said: ‘This is the eighth occasion on which the people of Christchurch have put their trust in me’. ‘It is a great relief for a night that has not been good for the Conservatives.’ Sir Christopher praised his wife and agent, saying she has ‘stood by me through this battle’ and thanked his staff saying ‘The team together is responsible for ensuring this great result today.’
In this month’s market update, we look at how the Labour Party’s policies will impact homeowners and property buyers across North London.
What is Labour’s position on Housing?
As the newly elected Labour leader Sir Keir Starmer moves into 10 Downing Street, many of us turn our thoughts to what Mr Starmer and the newly appointed Minister for levelling up, housing and communities Angela Rayner have in store for the local home movers, exactly what we can expect from the new Labour Government?
The Labour Party’s first budget and fiscal update may not come until at least September, it’s likely we will have to wait until this time to see what the new Government’s major political announcements will be.
Although In the pre-election Labour Party Manifesto (2024) ‘Change’, Sir Kier does clearly set out his party’s housing objectives.
The Labour Manifesto states –
New Laws –
‘We will make new laws so that local people in England have more say in decisions to make their area better. Like decisions about transport and housing.’
Building New Towns
‘We will have a plan for the next 10 years to get better roads, transport and other important things the country needs.
Our plans include:
- Making roads good and safe for everyone.
- Better bus services for local areas.
- Changing towns to make them better and building new towns.’
Build 1.5 Million New Homes
‘Many people cannot afford their own home.
We will change this by building 1.5 million new homes.
That includes more housing that is cheaper to rent or buy. Like social housing.’
Although slightly at odds with the positive messaging in their Manifesto, the Labour Party have announced that First-time buyers are set to see their Stamp Duty exemption reduced back to £300,000 from April 2025 but have promised a Freedom to Buy scheme.
The Labour Party’s announcement to lower the Stamp Duty threshold for first-time buyers from £425,000 to £300,000 in April 2025 leaves us wondering if the party will introduce any major initiatives that will make it easier to get on the property ladder, given their Manifesto commitment.
Local buyers are certainly looking for Labour to fulfil its pledge to introduce the Freedom to Buy scheme, as they remain concerned that buying a first home continues to be very challenging.
Time will tell if we can trust the new Labour Government to deliver on its promises, we will keep you posted.
See our most ‘Recently Sold Properties’.
Some of the fantastic properties listed for sale in Dorset this month
Here are just a few of the properties recently listed for sale from across Dorset –
House for Sale in Wimborne – Guide Price £1,250,000
House for Sale in Bournemouth – Guide Price £880,000
House for Sale in Ferndown – Guide Price £525,000
House for Sale in Verwood – Guide Price £525,000
House for Sale in Wimborne – Guide Price £525,000
House for Sale in Wimborne – Guide Price £330,000
To see the very latest homes to come to the market, click ‘New to market homes’, this lists all of our very latest properties for sale.
Or see more ‘Recently Sold Properties’.
Ready for a summer move?
If you would like some help or advice, please feel free to give me a call at our Ferndown Office anytime.
You can use our Instant Online Valuation or book a Face to Face Valuation.
Until next month, happy house hunting.
Grant Brooks – Edwards Estate Agents
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