Housing market set to bounce post-election

Housing market set to bounce post-election

Property website Zoopla has revealed that the dust settling on the general election has seen an increase in people moving houses. This mini-boom is due to the clarity following the political uncertainty as of late.

This new housing market report by Zoopla is encouraging to those who weren’t sure whether the general election and Brexit were going to cause a long-term ebb. Their new ‘State of the Property Nation’ report includes reports on the mindsets of around 6,000 people who are considering moving home across the UK- including renters.

Its latest survey shows that a third of those asked said that they intend to move this year, and third of those who answered with this said that they were ‘serious’ in their intentions, which is up 11% from last year.

“There are increasing numbers of people who are active in the property market and those seeking a new property are serious about making a move,” Andy Marshall, Chief Commercial Officer of Zoopla said.

The results of the report reveal how market confidence is finally returning after all of the problems in our current political climate. Buyers may feel more safe about moving now that a political party is cemented in place for another 5 years, and now that ‘no deal’ fears are pushed back by another year at least.

This should help out the housing market as a whole, as more activity means that house values will rise, and landlords will have a much better time overall.

Marshall also said “We are seeing a polarisation of the market. Confidence is slowly returning among buyers, but this is moderated by a feeling of caution among sellers, with ongoing economic uncertainty causing them to doubt whether they will achieve the asking price they believe their property is worth.”