Now that the dust has settled following the Prime Minister’s surprise announcement of a July 4th General Election, we look as what this decision means for the property market.
After a steady market over the winter there have been signs of a spring bounce just lately. More sellers have been listing their homes for sale, and buyers have been buying, especially where properties are well priced.
Property prices seem to be holding up well overall, according to recent stats. The latest Nationwide House Price Index says that, even after a small monthly fall, they rose 0.6% over the last year. The Halifax House Price Index says they rose 1.1%.
The prospect of an interest rate cut sometime soon has also added some spice to the market.
Then the 4 July general election was announced pretty much out of the blue – with most people expecting it to be in the autumn – and put a whole new complexion on things.
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