How did the election result affect the UK real estate market?

Experts said the results of the election could cause the real estate transactions in England to slow down. However, this effect may not last.

Political turmoil tends to curb activities in the housing market, especially when these fluctuations take place in the summer – the peak season of real estate transactions. Uncertainty after the results of the vote on June 8 will almost certainly make British real estate market decline.

Alex Gosling, Managing Director of HouseSimple.com, commented: “The slowdown in supply and a hanging parliament will undoubtedly have a negative impact on the UK property market, which is exactly what the market is up to. This is facing. ”

According to Gosling, the uncertainty of the political outlook makes both buyers and sellers afraid to make a decision to buy or sell a home. Due to the psychological wait, observing the market situation of the British people, trading activity on the property market has signs of slowing down.

However, mortgage lenders are still confident that this “political snowstorm” will soon be over, and the market will quickly stabilize. Real estate transactions are not going to be affected by political instability as a result of the election.

With attractive mortgage lending policies, first-time buyers with real needs will still hunt for homes instead of waiting, watching the political situation.

Real estate expert Sarah Beeny, owner of Tepilo.com, said: “I do not think that the election will have a lasting impact on the housing market. The next few weeks, when the political situation has stabilized.

Brian Murphy, chief financial officer of the Mortgage Advice Bureau, said, “If you look at past” political shocks, “there is very little that actually changes. No new laws passed overnight. Therefore, it may be only in the next week that the market will resume normal operations. ”

By: (Tuoi Tre Online)

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