What the June 2017 Election will mean for North Manchester Property

Today, the Prime Minister announced a snap General Election for 8th June 2017, providing the vote to overturn the Fixed Term Parliament Act goes through tomorrow as expected, once again Britain will go to the polls on 8th June.

Politics isn’t really my bag, I don’t get fired up and passionate about it like I do about Property and the Property Market, but it seems like I am increasingly commentating on the latest political flavour of the month as more often than not they’re having direct impacts on either my landlords, my tenants or both!

In the past year alone I have got on my high horse about: The Rental PledgeRight to RentImmigration ActThe Housing and Planning BillRegulation of Buy to Let Mortgages, Brexit,  Licensing, Buy to Let Mortgages, and Clause 24, also known as Section 24, also known as the Tenant tax, this has been a big one for me see here, here and here

The I also comment on the effects of government policy like: Greater Manchester sees record number of evictions, What does the Budget Mean For Us? and The benefits capital of Britain is revealed: New map shows which parts of the country guzzle the biggest chunks of UK’s £161BILLION welfare bill.

So whilst I offer the caveat that politics isn’t really my thing, I certainly seem to have a lot to say on the matter, and so I should, as it directly impacts on me both as a landlord and as a business owner and I can see it directly impacting upon my tenants too. Today’s announcement will take up a lot of attention in the media and all around the internet for the coming 6 weeks, we will still be issuing our regular blogs, videos and social media updates, but will also be available to talk with anyone who has any questions or concerns about the North Manchester Property Market

I manage property across 10 Labour constituencies in North and East Manchester, given the disarray within all of the opposition parties, I expect conservatives to gain more seats. Its doubtful these will come from my constituencies, but there’s a chance.

From a wider perspective, a stronger conservative majority will mean Brexit could move smoother, if the result goes as expected, less overall drama and more getting meat on the bones of negotiations and deals. This could add some further stability and confidence to the economy and help continue the stable growth of the country. With no huge build programme on the horizon, demand for property will remain strong and prices will continue to grow.

More restrictions will apply to benefits and a tightening of the benefits cap, which will have a particularly telling affect on tenants in North Manchester.

What are your thoughts? have your say in the comments below

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