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

can you drink tap water
Breaking News

Five heatwave home horrors that could stop your property from selling

The latest research from House Buyer Bureau has revealed the heatwave-related issues most likely to deter potential homebuyers during a viewing, with strong smells from drains and sewage ranking as the biggest turn-off, followed by excessive noise when windows are open and bad smells from bins or rubbish. House Buyer Bureau commissioned an independent survey of…
Read More →
Surge in country and seaside property values
Breaking News

Air-conditioning searches double as 61% consider installing it

Searches for homes for sale on Rightmove with air conditioning have more than doubled this summer, up 104% compared with the same period last year New consumer research from Rightmove, the UK’s largest property platform, reveals that recent heatwaves are influencing how Brits think about their homes, with staying cool becoming a key priority: 61%…
Read More →
Estate Agent Talk

Why Cases Stall in Summer and What Agents Can Do About It

By Cara Stanbridge, Head of Relationship Management at Nova Conveyancing Every year, we hear talk of the summer slowdown. But from what I see working closely with agents, conveyancers and clients, the issue isn’t usually a lack of activity. More often, it’s keeping transactions moving when everyone involved is juggling higher workloads, holidays and competing…
Read More →
small house bird box
Breaking News

Britain’s property hotspots revealed

The Scottish city where houses sell fastest – and the town where it takes SIX TIMES as long to sell your home Homes in Glasgow sell three times faster than the UK average – making the Scottish city the fastest selling in Britain Wakefield is the slowest-selling city in Britain, with homes spending twice as…
Read More →
Breaking News

Breaking Property News 13/8/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   The average age of tenants living in shared houses in the UK is now 35   Thought leadership by Adam Pigott CEO of tlyfe (Openbrix)   “The headline figure that tenants are now in their mid 30’s and still have to share facilities, not even have the…
Read More →
Breaking News

Stamp Duty receipts remain above pre-pandemic norms

The latest research from Yopa has revealed that, despite continued speculation surrounding a slowdown in the housing market, Stamp Duty Land Tax (SDLT) receipts remain comfortably above pre-pandemic levels, demonstrating the resilience of buyer activity in recent years. Yopa analysed monthly Stamp Duty Land Tax receipts published by HM Revenue & Customs between January 2018 and…
Read More →