Snap Elections May Let Property Enthusiasts Strolled Into Town
Wednesday, 24 May, 2017
The British Prime Minister Theresa May recently startled the property buyers in the UK when she announced an early election to be held on June 8.
“We need a general election and we need one now. We have at this moment a one-off chance to get this done … before the detailed talks begin,” said May, addressing from 10 Downing Street. “I have concluded that the only way to guarantee certainty and stability for the years ahead is to hold this election,” she added.
Since her surprising speech, a lot of dubious discussions have commenced in the UK property market amongst home seekers and sellers. Property analytics and estate agents suggest that early elections will bring fortunate news ahead for the property sector. Property Pundits claims that people now are more likely to take a few weeks pause in property trading until upcoming elections.
“Analysis of sales transactions over the course of the last nine general elections indicates there will be a dip in activity pre-election,” said Alison Platt, chief executive at estate agent Countrywide in an interview to CityA.M. “Post-election there will be a bounce back in the number of sales in the market. She further added.
People who had already listed their houses for sale are more likely to stop their property marketing for a bit and wait for the election results. However, those who will have to take a decision within the next few days due to their personal circumstances are obligated to buy or sell the property during this property muted period. The British Prime Minister may have taken this early election decision to secure Brexit Mandate but this shall impact the estate industry, for better or for worse, the elections will tell in some days.