Rightmove’s report also reveals, by analysing historical data, that the UK property market typically remains steady during an election period.
Looking at the 2015 election cycle, buyer demand remained consistent leading up to the event. After the election, the housing market experienced a boost in June. This post-election boom in activity saw the annual change in demand move from a 9% increase to an 18% increase.
Similar patterns were observed during the 2019 election when demand stayed stable in October and November. During the election month of December, there was a yearly increase of 13%, followed by another annual increase of 14% in January 2020.
The summer housing market is also typically slower than other seasons, so it has been theorised by Rightmove experts & Matterport that the July election will have little effect on property trends. There may be a stronger August than usual thanks to renewed clarity in the political situation, a possible fall in interest rates, and a potential post-election bounce.