Foxtons reveals General Election wish list

Stamp Duty reform and first-time buyer support tops the list of what Foxtons would like to see from the next Government.

The main parties are slowly revealing their housing policies ahead of the General Election on 4 July.

Labour has vowed to make the current Mortgage Guarantee Scheme permanent, while the Conservatives have vowed to keep the first-time buyer Stamp Duty threshold at £425,000.

Guy Gittins, chief executive of Foxtons, said: "For young buyers it’s still extremely tough and I and I don't think that's going to change in the immediate term. 

“What we'd love to see from any government now is to look ahead and try to encourage more first-time buyers onto the ladder. And I think that with a little bit of sensible policy around some of the help to buy schemes, we can certainly do that.

"Anything helping first time buyers such as Help to Buy schemes or government backed mortgage schemes I think really is a is a positive step forward. I think there's an optimism in the air certainly.”

"Looking at the rate of Stamp Duty could free up a little bit more movement for downsizes, for example."

He said the government also needs to be encouraging landlords back into the market.

“That exodus that some people are reporting - which we we don't see being a heavy exodus - but any reduction in the overall available stock means that renters are going to see a little bit of price tension still creeping in over the next few years."