General Electoin 2017
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Latest property news
General election reduces ALL housing market indicators
Not many agents have thanked Theresa May for holding a general election during the crucial summer months, and now the extent of the damage being caused by the campaigning is laid bare. All the UK’s housing market health indicators fell last month which, according to NAEA Propertymark which compiled the figures, is “most likely down to uncertainty triggered by the snap General Election starting to take effect, as buyers put their plans on hold until the result is clear”, it says. House hunter number fall This includes the number of house-hunters in the market which fell by 4% to 381 per branch, property supply per branch which dropped by 8% to 36 per branch, and the number sales agreed per branch. This fell from ten per branch in March to eight in April. This is the third April in a row during which politics has conspired to dampen down the housing market after last year’s EU Referendum – which had the hardest impact on the market – and, before that, the 2015 General Election. For example, during the EU Referendum the number of house hunters dropped to 325 per branch, 17% lower than the current figure of 381. “Periods of…
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Latest property news
Will the snap 2017 General Election slow the Spring property market?
Will the property market now face a six-week close-down as movers wait to find out what happens after the 2017 General Election called today by the Prime Minister, Theresa May? On previous form, it might. The market had to wait for the 2015 General Election called by the doomed David Cameron and the ensuing EU Referendum last year, both of which sucked precious weeks and months from those years’ crucial Spring – and normally busy – property buying peaks. This time around been a mixed reaction from the property and lending industries. The Yorkshire Building Society was first out of the blocks following the announcement this morning by Mrs May. Its economist Andrew McPhillips (left) said: ““The housing market is going through a sluggish period at present and a general election adds to the chances of it lasting longer. “Home buyers who are well on the way to making a purchase have traditionally not been put off by such surprise macro-events but those only thinking about it may decide to pause.” North London agent Jeremy Leaf (right) says: “The period of indecision starts from now until the election and thankfully it is relatively short. Inevitably, a lot of decision-making will be put…
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