An overwhelming Tory majority will bring confidence to the property market

James Greenwood of Stacks Property Search says, “With a Boris majority now in Parliament, we expect the property market dam to open. This year will see activity levels not experienced for over a decade; there will be more transactions; more stock; and a great deal more excitement.

“An end to economic and political uncertainty, combined with a continuation of low interest rates, will encourage those who have been worried about what is potentially around the corner to leap into action. There is a huge amount of pent up demand from homeowners who have been delaying a move, whether that’s upsizing, downsizing, or moving geographically.

“Vendors shouldn’t expect prices to rise, although some property that may have been languishing on the market at a slightly inflated price may start to attract more attention. Selling agents will need to manage the expectations of vendors who will want their wait to be justified with higher prices.

“Our advice to buyers is to get active, put their own property on the market, and start looking (not just browsing the internet). Arrange finance as soon as possible, it takes longer these days than in the past, and buyers who have their finance in place will be given priority in competitive situations. You will be operating in a market that is full of confidence.”

Stacks Property Search, 01594 842880 / www.stacks.co.uk

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