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What impact has the general election had on the UK property market?
As an estate agent we’ve had a lot of questions lately about the property market, mainly based on the general election and what impact it’s had.
Despite the uncertainty about the election, stats recently revealed by an independent expert have shown an average increase of 0.3% in property sales in the month of May.
Although property transactions have undoubtly slowed down in the past couple of months, which is unusual for this time of the year, Rightmove has revealed that between April and May property prices in the Midlands increased by 1.3%.
The West Midlands alone has risen 5.9% since this time last year, and it may surprise some of you, but it still remains the region with the highest increase in property prices.
Surely the increase in statistics show that the election hasn’t had that much of an impact on the property market as we first thought. As an independant estate agent, we personally haven’t seen any change in the amount of prospective buyers looking for their ideal home or buy to let investment, infact the market is still as buoyant.
What are your thoughts on the property market? We’d be very interested to hear them by emailing [email protected].
If you would like to get in touch and book a free valuation report of your home, or discuss putting your property on the market or queries you can get in touch. Contact Us, or call the City Centre Branch 0121 604 4060 or Edgbaston Branch 0121 456 545