The resounding Conservative victory over Labour and the Liberal Democrats in the General Election has been warmly welcomed by the property industry this morning, with many predicting a post-election property market bounce.
Economic and political uncertainty has stalked the housing market since the EU Referendum and both big data and agents on the ground have highlighted the need for greater certainty of the UK’s economic direction to persuade people to start moving home again.
Prior to the election, RICS described the property market as ’subdued’ and ’haunted’ by a lack of clarity over Brexit.
Here’s just one of the reactions to the Conservative’s landslide victory early this morning, which we will be adding to as the comments roll in.
Iain McKenzie, CEO of The Guild of Property Professionals
“Now that there has been a decisive win for the Conservatives and therefore a clear path forward has been established, I believe we will see a bounce in confidence and activity in the property market.
“Many buyers and sellers have put their lives on hold waiting for an outcome to the political controversy playing out in front of us. This has led to a severe lack of stock coming onto the market as sellers have held back. The result of the general election has finally provided the population with clarity regarding the Brexit hurdle and we will almost certainly leave the EU at the end of January, meaning we can move forward as a country and the market can settle into a new normal, which should see activity start to improve as buyers and sellers return to the market.–
Thank you to journalist Nigel Lewis, writing for The Negotiator (13012.19)
