Buyers holding back

April 9, 2015
Kerb appeal

Now with just four weeks until the election on 7th May it appears the property market is stalling, can anyone blame buyers with some of the housing policies that Labour are proposing. This is probably a blip until the outcome becomes clear, Labour have voiced strongly their intentions about introducing a mansion tax, industry analysts are saying this is causing potential purchasers of the most expensive homes  to hold back until after the election result is known.

In a recent report  Jonathan Samuels from Dragonfly Property Finance says “For demand to have fallen particularly sharply at the upper end of the market underlines the sensitivity of this demographic to political uncertainty,”

The Bank of England states “The fall in demand was significant in prime lending”

Supply from the banks remains relatively high, people should be encouraged back to the mortgage market with the prospect of low borrowing costs and greater availability of credit from lenders, once the voting is over that is.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

First-time buyer enquiries fall 27% as borrowing costs rise

First-time buyer enquiries a quarter lower than last year as higher borrowing costs put moving plans on ice   The gap between housing supply and demand continues to widen as sales slow First-time buyer enquiries are a quarter (27 per cent)  lower than last year in the wake of the the Bank of England’s decision…
Read More →
Breaking News

Homes completing on Friday the 13th sell for less

With Friday the 13th fast approaching, new research from Homebuyer.Agency has revealed that homes completing on the supposedly unlucky date have sold for as much as £24,950 below the wider market median, while properties bearing the number 13 have also consistently commanded lower prices. Homebuyer.Agency analysed Land Registry price paid data across England and Wales…
Read More →
Breaking News

Surrey, Herts & Bucks named most exclusive markets

Surrey, Hertfordshire and Buckinghamshire have been named England’s most exclusive new-build property markets outside London, according to new research from UK Property Development (UKPD), with these counties boasting the highest proportions of new homes commanding asking prices of £1 million or more. UKPD analysed current new-build property listings across England using Rightmove data, before looking…
Read More →
Breaking News

Friday the 13th spooks home-movers

Rightmove analysis reveals that people avoid moving on Friday the 13th, despite Friday usually being the busiest day for home moves Analysis of Land Registry data going back to 1995 shows that Friday the 13th is the quietest Friday for home moves The 13th is also the quietest day of the month for home moves,…
Read More →
Letting Agent Talk

Section 21 reform divides landlords and tenants

Five months after Section 21 was abolished, landlords and tenants remain sharply divided over whether the reform was necessary, but both sides agree that good relationships and clear communication have the greatest influence on how secure a renter feels, according to new research from LRG. The Autumn 2026 Lettings Report, based on responses from 405…
Read More →
to let sign 2025
Breaking News

70% of landlords anticipate rent rise due to Autumn Budget

As landlord exodus threatens rental supply The latest research from LegalforLandlords has found that 70% of UK landlords are considering increasing rents following the Government’s latest property income tax changes, while almost half are considering selling properties or reducing their portfolios, raising concerns about the future availability and affordability of privately rented homes. LegalforLandlords commissioned…
Read More →