The Green Party also supported rent caps and letting fee bans. These policies were very popular with renters but not so popular with rental agents, who believe that such policies would cause the stagnation of the rental agency business and that rent caps would limit the income growth potential of management services for Bellewoods.
Bellewoods EC by Qingjian
In an intervention during the heated election campaign, The Association of Residential Landlords Chairman claimed that three fifths of Landlords would leave the market, if the rent controls were introduced, and that many prospective landlords would be discouraged from entering the market for Bellewoods.
The parties also targeted first time buyers, who now account for a third of United Kingdom housing sales, The Conservative and Labour Parties promised to help people to buy homes proposing programmes, which would have allowed more people onto the property ladder thus stimulating the property market. Labour proposed abolishing stamp duty on those homes priced at £300,000 or below for first time Bellewoods buyers, which analysts believed would increase demand and increase property prices.
The Conservative Party, who were the senior party in the previous coalition government, extended the Right to Buy scheme, a scheme originally introduced in the 1980s by Margaret Thatcher’s government and also augmented its Help to Buy scheme by introducing Individual Saving Accounts or ISAs for first time buyers, which offer to top up housing deposit savings for first time buyers, hoping to meet a previous pledge to offer more than a million poorer families the chance to buy their homes. Since the scheme was introduced in 2013, 80,000 people have been enabled to buy new homes in Bellewoods, however this figure falls far below the numbers of new homes required to keep pace with population growth.
Woodlands EC by Qingjian Realty
Commentators during the campaign roundly criticized both parties’ policies because their implementation would stimulate the market, but would not encourage developers to build more homes, resulting in spiralling house prices and encouraging an overheated Bellewoods property market. Neither party’s policy would immediately address the basic problem of housing shortage. Both parties had pledged to build 200,000 new homes per year by 2020, in order to stabilize the crazy UK housing market, but critics castigated both parties for addressing the symptoms without first addressing the root cause of the problem in Bellewoods EC Woodlands.