Its hard to believe we are already halfway through 2024, with summer round the corner and the school holidays fast approaching. As we look back its clear there have been many positives so far this year, with increased activity from both buyers and sellers fuelling a competitive market.
Although it would be nice to be able to guarantee this will continue now, with the general election taking place, its impossible to know for certain how the second half will look. Rumoured policy changes and reforms can bring about a nervousness for both homeowners and buyers that are yet to solidify their plans; however recent Rightmove research suggested that 95% of people planning to move home have said the election will not affect their plans, which is somewhat reassuring.
We must remember the housing market has faced, and overcome, a number of unprecedented obstacles over recent years, from the global pandemic to increased mortgage rates, and although at the time they can prove challenging overall the market has kept moving and changing with the times and trends. We’d hope the election would prove no different in fact Rightmove’s data shows that after both the 2015 and 2019 elections there was an increase in market activity; with demand holding steady pre election and a boost seen once the results were in.
We appreciate there are many unknowns so there’s no time like the present to reach out to your trusted agent, such as myself and my team, to discuss your plans and the potential value in your home.
Written by Durden and Hunt Director, James Hunt
Loughton Estate Agent, Hornchurch Estate Agent, Ongar Estate Agent, Wanstead Estate Agent, Canary Wharf Estate Agent
