Elect to sell with Poole Townsend

So it happened. The General Election is upon us and we find ourselves waiting to see what the outcome is and how it may affect the country. Whatever your persuasion with regard to political allegiances or interests, we are all affected by decisions that are made so we have been eagerly watching the market for a reaction.

The good news is that the announcement of the election seems to have had little to no effect on the property market at this time. What has had more of an impact, has been the reduction of inflation to target levels and the holding of the interest base rate with the suggestion of future reductions.

The general trend in the market is a significant increase in the number of properties coming to the market for sale. Zoopla reports that we are at an 8 year high for numbers of ‘for sale’ property. In fact there is a 20% increase year on year on property numbers. The better news is that there is also a year on year increase of 13% on sale agreed figures. What is coming to the market is attracting interest and selling.

Newly marketed property is entering the market at sensible and saleable levels. The number of available property allows more choice for buyers and competition between sellers means more motivated selling prices. The property market is not being conservative and the labour involved in agreeing a sale is not excessive!

By the time the next Property Talk comes around the results will be in. Expectations of the property market are that things will remain as they are, positive and progressive. Let's just hope whoever is in power are also positive and progressive too.

By Craig Turner, Property Department Manager & Valuer, Kendal Office

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