An upcoming election is often thought to greatly impact the property market, leading buyers and sellers to hesitate.
However, according to this research from Savills, so many factors affect the market at any given time that it is hard to prove concretely that the General Election has had a big influence.
In fact, 79% of participants in Savills’ Buyer and Seller Survey have stated that the election will have no impact at all on their decision to move in 2024.
Overall, it seems that interest rates, and whether or not they decrease in the near future, will have a more significant impact on the property market for the rest of the year. Typically, a change in interest rates has a substantial effect on price movements and activity levels in the market.
Further Reading: Learn more about buy-to-lets in Merseyside by viewing our properties, such as The Gateway – Liverpool.