After a night of drama Boris Johnson has returned to Number 10 with the largest Conservative majority since Margaret Thatcher in 1987.
The markets reacted positively to the news, the value of Sterling rising against both the US$ and hitting its highest level since July 2016 against the Euro. On the stock market the FTSE 100 share index rose 1.8%, while the FTSE 250, which includes more UK-focused shares rose 4%, hitting a record high.
A poll prior to the election by YouGov indicated 14% of people considered housing a ‘top three’ priority in the election, with housing considered more important than education, defence and welfare benefits.
Key Conservative housing manifesto pledges include increasing housebuilding, supporting first-time buyers and maintaining ‘Right-to-Buy’, leasehold reform and reforms to the rental market including ending no-fault evictions and the introduction of so-called ‘lifetime’ deposits. Non-UK resident purchases may now face a 3% additional taxation levy, up from the 1% mooted by Theresa May.