In 2015, we had the general election. A little over a year later, we were back at the polls for the EU referendum and in March Article 50 was triggered setting us on the path to leave the EU. So that’s us done with political uncertainty, right?
Wrong – well, at least, not necessarily.
In April, and seemingly out of the blue, Theresa May announced that there would be a snap general election on June 8. However, whilst this undoubtedly came as a surprise, we must not let it destabilise the property market.
Yes, elections can lead to uncertainty and that can affect confidence but let us not lose sight of how the property market works. Simply, it is driven by demand and that currently remains extremely high due to a lack of supply in the market.
There are also the nuances of this particular election to consider. Simply, the Conservative government hopes to secure a stronger working majority in June. This would reduce its reliance on the eurosceptics within the party and allow the party to deliver a softer Brexit which is likely to be welcomed by the economic system.
So in fact, so far the situation appears decidedly more positive than you may have thought it would be.
In fact, properties coming on to the market over the last few months have tended to sell quickly and in many instances, for more than they’ve been marketed at. This means that if you’ve considered a sale and have an eye for showing off your property in its very best light, now could in fact prove to be a great time to sell your property.
This does, however, come with a word of caution – but not one in any way linked to the impending election.
Market conditions, as we’ve acknowledged above, are currently as they are due to a lack of supply in the market. There simply aren’t enough properties coming on to the market so don’t wait until you’ve found the home of your dreams before deciding to sell yours. Demand is such that you’re likely to miss the boat by taking this approach.
Andrews prides itself on taking a consultation, not valuation, approach towards those considering a house sale so if you’re wondering whether now is a good time to market your property why not drop in to your local Andrews branch where the team will advise you on the likely value of your home, the local market conditions and how you can best present it to achieve a sale at the price you want. You can also visit our website for a wide range of advice and guidance on the house selling process: www.andrewsonline.co.uk