21 Jan Post-election jump in buyer demand
The General Election at the end of last year had us all on the edge of our seats. Social Media propaganda filled our feeds and news articles were more concerned with being first rather than correct. It was a time of uncertainty and division, with entire families falling out over conflicting party manifestos and no one really knowing who or what to believe.
Thankfully, that is all behind us now and we can go back to being friends and, with the election in the rear view mirror we have started to see some reassuring activity in the property market… so every cloud etc. If you are thinking of moving to the area make sure you take a look at our properties for sale in Virginia Water, properties to let in Virginia Water and the surrounding areas.
Uplift in the capital
In the immediate aftermath of the election and the lead up to Christmas there were signs of a slight uplift in buyer demand with the biggest increase found in London. Usually the lead up to Christmas is quiet with people settling in for the holidays in order to take action in the New Year. However, demand from prospective buyers across the UK increased by 28% compared to the same period in 2018. The biggest increase (54%) was recorded in London.
Wait and See
We are confident that this unexpected uplift is the result of waiting out the governmental uncertainty. Across the country people have been reluctant to buy or sell due to the uncertainty over bank rates, Brexit and future legislation. Now that most of this has settled, we are seeing those ‘wait and seers’ leap into action.
This presents an alternative challenge for the property market in general. With an uplift in buyer demand, what does this mean for stock levels? In a supply and demand industry it would suggest that we will see house prices start to increase as buyers get competitive in order to secure their next property.
January 2019 was one of our busiest periods of the year, and 2020 has been no different with significantly more buyer enquiries and an increase in properties coming to market and, with a little more political certainty, this year is looking to be a good year for buyers and sellers alike.
Get in Touch
If you’d like to speak to someone about your property options, a member of our expert team would be happy to help. You can call us on 01344 843000 or email us. You can also follow us on Facebook, Twitter, Instagram and LinkedIn.