There have already been reports of growing optimism in the property market earlier this year, and it seems these sentiments are getting stronger now that there is more political certainty.
According to the latest Rightmove House Price Index, financial markets expect the first Base Rate cut to happen in August or September. The first cut in four years and the political certainty gained after the election could set the backdrop for a booming autumn market.
Ruth Beeton, Co-Founder of Home Sale Pack, says: “Labour’s decisive victory seems to have delivered a newfound confidence and optimism in the nation’s housing market, and many previously hesitant sellers have quickly pounced on what feels like a potential rebirth of Britain’s economy and fortunes under new leadership.
“We very much expect to see the market continue to surge over the coming months as the nation’s buyers look to secure a new home, especially if the economy continues to show signs of recovery as it has recently been doing. The pressure is now on estate agents and conveyancers to facilitate this increased activity and ensure they’re working smartly and efficiently to help these sales process in good time.”
