Will General Election Result See A Property Market Bounce?
There is no doubt that the recent uncertainty following both the EU Referendum and the General Election have wreaked havoc on the UK property market, with many buyers and sellers unsure of how the market will play out. Throughout this bumpy period, people have tended to put any big decisions on hold, and property transactions have stalled somewhat.
The recent General Election result should change this, with estate agents feeling positive about the year ahead. Gavin West, a property consultancy director, stated that his home county of Oxford-shire will ‘gain confidence’ in early 2020, along with the wider property market. He recommends that people should think about having their houses re-valued now. If you need a home buyers survey Essex has plenty of experts to help.
A predicted healthy economic boost
Surveyors are also in agreement with the analysts, who say that the New Year will see an upturn. Simon Rubinsohn, chief economist for the Royal Institute of Chartered Surveyors (RICS), stated that, although we might see an upturn in the housing market generally, it ‘will not amount to a great deal’. The general consensus is that we will see a definite upturn at the beginning of the year and this will level out as the year goes on.
Despite some disagreement amongst the professionals, analysts are generally feeling positive. Take Jonathan Samuels, CEO of the property lender Octane Capital, who recently said that he felt that the coming year would see stronger price growth than in recent years/ He has already seen house prices start to rise in his home county of Oxfordshire and can see this having a wider effect on the industry as a whole. Evaluating the numbers of people looking for a home buyers survey Essex providers, SAM Conveyancing, agree with him. The former residential chairman of the Royal Institution of Chartered Surveyors, Jeremy Leaf, also recently stated that the results of the General Election should bring some crucial stability to the markets, at least in the short term.
It is clear that there is still some uncertainty as to what 2020 will bring, but one thing analysts do agree on is that a stronger economic picture will unfold. This will see people more willing to make longer term life-changing decisions.