Nationwide also included some analysis of previous election period house price movements and market activity to gauge how much impact we can expect from the upcoming general election on 4th July.
They found that typically general elections have not caused significant volatility or substantially changed trends in house prices. Generally, prices have stayed on their former trajectory, suggesting that wider economic trends are more likely to majorly influence housing prices compared to elections.
Looking at mortgage approvals around historic polls also showed a similar picture. The charts show negligible impact in the three months before and after an election. The only exception is 2019 but this huge fall in approvals is down to the impact of the pandemic rather than due to the election, and activity returned to normal after restrictions began to be lifted.
This implies that general elections don’t have a large effect on the decision-making of people who are buying or selling property.
To read more about UK property powerhouse locations, take a look at some of our buy-to-let area guides covering topics such as available investment property in Chelmsford and available investment property in Dagenham.
We have also published a new Property Investment guide along with a summary of what makes a good property investors in 2024.
UK Housing Market Shows Resilience as House Prices Increase
