Property market confidence is soaring to its highest level in two years, making now the perfect time to consider making your move. As the Starmers settle into Downing Street, the housing market is experiencing a renewed sense of optimism.
Typically, the lead-up to a General Election creates uncertainty and a slowdown in the housing market. This year followed suit, but the impact was less severe as previous interest rate hikes had already dampened demand. In June, when we surveyed agents about their confidence in the housing market, 55% reported similar or lower levels than three months prior. However, expectations for sales volumes over the next three months have now reached their most positive level since January 2022.
With greater political clarity and an anticipated interest rate cut from the Bank of England, the stage is set for a surge in housing market activity. If you’ve been contemplating a move, now is an ideal time to act.
Source: Dataloft by PriceHubble, RICS. July 2024
