What the general election result means for the UK housing market

A POLITICAL stun grenade hit the property market today – and as one expert commented: “It’s the last thing the housing market needed right now”.

Any period of political uncertainty tends to halt activity in the housing market, and as we enter what is usually peak summer activity, property transactions are almost certain to stall.

Brits most affected will be the buyers and sellers dipping their toes in the market – who usually put their homes up for sale or start looking at what is on offer.

For now though, they will most likely stay put in their homes instead.

Alex Gosling, CEO of HouseSimple.com, explains: “The last thing the housing market needed right now, with house growth slowing, was a hung parliament, and that’s exactly what it’s got.”

He added: “We are now faced with more political uncertainty and that could feed through to buyer and seller confidence. We could see buyers holding off making a purchasing decision until the political landscape is clearer.”

Brian Murphy, head of lending at Mortgage Advice Bureau (Holdings) PLC (LON:MAB1) said: If you look past the sentiment and shock, little has actually changed.

No new laws have been passed overnight and for those people already in the buying or selling process, nothing has changed overnight either.

It’s quite likely that as far as the UK property market is concerned, come next week it will be business as usual.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    Twitter
    LinkedIn
    Mortgage Advice Bureau (Holdings) Plc

    More articles like this

    Mortgage Advice Bureau (Holdings) Plc

    Is the prospect of longer tenancies good or bad news?

    In early July, the Government opened a consultation into the benefits and barriers to landlords offering longer tenancies. This is the latest step in its commitment to increase security of tenure for tenants in the PRS,

    Mortgage Advice Bureau (Holdings) Plc

    A helpful guide for first time buyers

    Buying your first home can be quite daunting. It’s likely to be the biggest financial commitment you’ll ever have, so you need to know that you’re making the right decision. Searching for a mortgage can be

    Mortgage Advice Bureau (Holdings) Plc

    What does the interest rate rise mean for me?

    The Bank of England has raised its bank rate today to 0.75 per cent and we’re here to cut through the jargon and answer, what does this mean for you and your mortgage? I’m on a

    Mortgage Advice Bureau (Holdings) Plc

    National Mortgage Index July 2018

    Mortgage Advice Bureau (LON:MAB1), Brian Murphy, Head of Lending comments: “June appeared to be consistently busy in many regions, with members of the network observing a solid number of buyer enquiries, regardless of the distractions of

    Mortgage Advice Bureau (Holdings) Plc

    August Interest Rate Decision

    Today, the Bank of England announced the bank rate would be increasing to 0.75 per cent, which could have an impact on those who are on SVR mortgages. Mortgage Advice Bureau Plc (LON:MAB1), Brian Murphy, Head of

    Mortgage Advice Bureau (Holdings) Plc

    Mortgage Advice Bureau plc another strong performance

    Peter Brodnicki, CEO of Mortgage Advice Bureau (Holdings) plc, said: “I am delighted to report another strong performance in the first half of 2018. Housing transactions have reduced slightly compared to the equivalent period last year,

    Mortgage Advice Bureau (Holdings) Plc

    MAB launches wealth and equity release proposition with Tenet

    Mortgage Advice Bureau has launched a wealth and equity release proposition in partnership with Tenet. The proposition will initially comprise 14 wealth advisers but MAB says it has “ambitious expansion plans”. Tenet is also dual authorising

    Mortgage Advice Bureau (Holdings) Plc

    Rightmove House Price Index July 2018

    Mortgage Advice Bureau (LON:MAB1) Brian Murphy Head of Lending comments: “The monthly Rightmove House Price Index provides us with an up to date ‘litmus test’ of consumer sentiment and activity in terms of the UK property

    Mortgage Advice Bureau (Holdings) Plc

    Buyers back in the market in May

    Mortgage Advice Bureau (LON:MAB1), Brian Murphy, Head of Lending comments: “May appeared to be one of the best months so far this year for some regions, with members of the network reporting a marked increase in

    Mortgage Advice Bureau (Holdings) Plc

    Halifax Price Index June 2018

    Brian Murphy, Head of Lending for Mortgage Advice Bureau comments: “The report released by the Halifax this morning indicates that house price growth appears to have steadied in May, following a somewhat lacklustre set of figures