Will The General Election Affect The Housing Market?

Posted on Friday, May 5, 2017

Normally you would be deafened by a collective groan from estate agents across the country as soon as a general election is announced.  Transactions almost always drop off as people hate uncertainty and are more inclined to ‘batten down the hatches’ and not make any big financial commitments until a result is known.  The good news is that this time, due to the speed of this ‘snap’ election we are only likely to see a very slight slow down in the short period of time before the 8th June.  Here at Peter Moody and Company we have had a record breaking first quarter for sales and prices in the centre of York are certainly still on the rise.

If you are thinking of selling your home my advice would be to go ahead and do it whenever suits you best and not be too influenced by the election date.  We are very much in a sellers market at present - personally I’ve never known there to be such a shortage of good quality stock and this is certainly contributing to price rises. If you are buying,  the good news is that there are some fantastic mortgage deals out there and I doubt this will change immediately after the country goes to the polls.

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