3
Nov
Guy Fawkes Was Right
Let’s look at some explosive ways to get the
market moving this Autumn.
Guy Fawkes 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/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 and even when it’s not their
choice. This is in addition to the 20% VAT received from almost
everything connected with moving home. With housing transactions
now half 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 “remember, remember 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.