Market Comment Q3 2024

Mon 01 Jul 2024

What will the change of government mean for the housing market?

It feels like the market has been holding its breath for much of ‘24 waiting for the outcome of the General Election. The last 6 weeks have been especially quiet with only the keenest (and savviest) of buyers and sellers braving the market.

When 4th July came, the nation spoke and the majority of voters woke up the next day, happy with their chosen government or local MP. This exhalation of breath can only be good for property in the short to medium term. In the days after we saw an immediate uplift in enquiries from buyers, sellers, renters and investors.

As always, there are seasonal hurdles and we now go into the summer holidays where the market is traditionally slower but our expectation is that with pent up demand and new found confidence this should prove to be a better period than usual. How long this resurgence remains long term, only time will tell as we see what effect the new government has on interest rates, taxes and the economy. For now though it looks positive and we’re looking forward to a housing market Indian Summer!

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