The housing market is being constrained by a shortage of houses for sale, according to 47% of property professionals surveyed by Myhomemove.
90% of those surveyed believe the market is being held back and a shortage of stock was cited as the prominent cause.
Meanwhile, 24% of respondents blaming a lack of mortgage availability and 16% said that a lack of new build properties was holding back the market.
There was strong support from Myhomemove’s conference delegates for extending the Help to Buy scheme for new build purchases to 2020. 80% of respondents supported the policy, compared to 8% who opposed it.
There was also support for the Tory party’s starter homes scheme, with 65% supporting it and just 3% opposed.
But the property professionals were divided on one of the other main housing policies put forward by the Conservatives in their manifesto: reducing inheritance tax on the family home. 42% said they support the policy, while 38% opposed it.
38% of respondents said that a target of building 200,000 new homes was achievable. The new Conservative government promised to build 200,000 starter homes for first time buyers in its manifesto.
Property professionals attending Myhomemove’s conference said that the new government will find it easier to implement its Right to Buy scheme for tenants of housing associations than it will to deliver its Right to Build programme. Both policies were outlined in the party’s manifesto.
43% said that a Right to Buy scheme for housing association tenants was realistic, with 27% not sure. There was, however, greater uncertainty over whether the party could implement the Right to Build scheme in its manifesto: only 26% thought this policy was achievable, whilst 41% were not sure.
Doug Crawford, CEO of Myhomemove, said: “Property professionals coming to our annual housing conference are clearly concerned about the obstacles that are holding back property transaction numbers. The good news is that the decisive election result could provide a confidence boost to consumers that will mean more properties are put on the market.
“The main housing policies outlined by the new Conservative government in its manifesto are, for the most part, popular within the industry. The question now is whether the government can deliver on its promises and how quickly it can do so.
“Some policies, like extending Help to Buy, are far simpler to deliver than others, like the proposed Right to Build scheme. This will undoubtedly be a big topic of debate at our conference, just one week before the government sets its policy agenda in the Queen’s Speech.”
