What does a general election mean for your sale? We explore the political impact on the UK housing market
The announcement of an upcoming UK general election has caught many by surprise.
On 4th July 2024, the British public will take to the polling stations to vote for their political party of choice. For some industries, general elections can bring a sense of uncertainty. Will the housing market be impacted by the news?
As Zoopla reports, the election announcement is likely to stall the pace at which new sales are being agreed to in the coming weeks.
Most buyers who are close to completing on a house will ideally want to push through and agree a sale now. Those who are earlier in the process may look to delay decisions until the autumn after the election is over.
Is this simply a short-term concern or are the effects wider reaching? Read on to find out more.