Blog Post
Post-election honeymoon period
Tom Simper
Jul 24, 2024, 15:00 PM
As the Starmers settle into Downing Street, homeowners across the nation might now being reconsidering their plans for moving house.
The lead up to a General Election typically creates uncertainty and a slowdown in the housing market. This year was no exception – although the impact was more muted as successive interest rate rises had already stifled demand.
In June, we asked agents for their views on confidence in the housing market and, at the time, 55% reported similar or lower levels than 3 months earlier. However, sales volume expectations for the next three months, have reached their most upbeat level since January 2022.
The greater political clarity, alongside the imminently expected Bank of England interest rate cut, should give added impetus to housing market confidence. Source: Dataloft by PriceHubble, RICS. July 2024
Leave a comment