- 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