Stable property market expected despite upcoming general election

According to a recent analysis by LondonDom, a boutique estate agency, the announcement of a General Election on 4th July has led to only a minor decline in property market activity. The upcoming election is unlikely to significantly disrupt the robust market momentum that has been observed in recent months.

Traditionally, elections tend to cause a noticeable slowdown in real estate transactions. However, current trends suggest that this election will have a more subdued impact on market activities as the result of these elections is expected to be a Labour Party victory, with the main question being the size of the parliamentary majority.

There is a reduction in buyer enquiries, largely attributed to potential buyers waiting in anticipation of possible government incentives post-election. Seller activity has remained relatively stable. The analysis by LondonDom suggests that despite some buyers adopting a wait-and-see approach, a substantial proportion of buyers is maintaining their search for properties and the sellers continue to progress with their plans, indicating resilience in the London property market.