Whether you are celebrating or commiserating over the General Election results, it is time to get back to business. With the Conservative Party holding a significant majority, the likelihood of the United Kingdom leaving the European Union has increased. Leaving aside any thoughts you have on this matter, it looks as though uncertainty regarding Brexit is at an end, and property industry experts suggest this is likely to be of benefit for people looking to buy or sell property.
This is the view of Liam Bailey, the Global Head of Research at Knight Frank, and many others in the sector are set to agree. One of the biggest complaints regarding Brexit’s impact on the property market has been uncertainty. If people have a reasonable idea on what is going to happen, they can make an informed decision. However, it has been impossible to have any confidence in the country of late, and the property market has suffered.
All eyes on the Conservative party and their property promises
Of course, it would be remiss to say that another five years of the Conservative Party in control will be positive for the property market. After all, the party has been in charge for close to a decade, an era when there has been instability across the country, and numerous challenges in the property market.
Martijn van der Heijden is the Chief Strategy Officer at Habito, an online mortgage broker, who said; “The Conservative Party returning to government with a significant majority today will be welcome news for some in the housing market, which has suffered from on-going political and economic uncertainty in recent months. Others though will likely sound caution, given that the Party has already spent nine years in office.”
After Brexit, will the market settle?
It would be wrong to say Brexit is the only reason people have suffered in the property market. There is a wide range of factors affecting vendors and sellers, so no one should expect things to magically improve overnight. However, now that there is an element of clarity in the country, there can only be hope that people can move forward.
With the Conservative Party making significant pledges regarding the property market and youngster stepping on to the property ladder, there will be increased scrutiny on their actions. If the party can deliver longer-term fixed-rate mortgages and mortgage cost stability, the market will benefit, but just because politicians promise something doe3snt mean they will deliver on it.
With convenient transport links to the centre of Manchester, and significant developments taking place, Stockport is the ideal place to buy, live or invest. As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html
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