Following this month’s election, this Property Market Report certainly bears a positive message. The one thing people and markets don’t like is uncertainty. There was tremendous uncertainty leading up to the election and right up until the last votes had been counted on polling day. That uncertainty is now over and, whatever your politics, the clear conservative majority is good news for home buyers, sellers and investors. The threat of the mansion tax which could have had crippling effects right across the market has been quashed, as have plans to cap rents which could well have stifled the investment needed to provide more desperately needed housing.
It also looks as though interest rates are now likely to remain at their historic six-year low for the foreseeable future. So in all this was a good election result for the property market.
There is also a feelgood factor in place: summer on the way, a royal birth, a strengthening economy with zero inflation, a strong pound and more people in work since records began.
We now have a scenario where many people who would otherwise have bought or sold this spring have waited until now and there is now a groundswell of purchasers looking to buy. Of course many of these buyers also have properties to sell so we may enter a situation where any upward pressure on prices could be tempered by an increase in supply as we approach the summer.
If you are considering selling we’d advise you to be strategic and do so right now and you could do very well. However do make sure that you nevertheless price competitively in relation to other properties available for sale nearby and we’d be happy to advise on this point and provide you with all the information you need to make the right decision – in confidence, with a smile, and without obligation.
