How will the Election Impact the Basingstoke Property Market?
After the governments surprise announcement of a snap election of 8 th June 2017, a number of our customers have asked me how this is likely to impact the housing market. It is fair to say that historically, a general election has usually signalled a decline in property sales, just before the election, only for this to return to normal figures shortly after the dust has settled. However, given that general elections since 1980 have nearly always fallen in May or June, looking at the seasonally adjusted figures since 2005, it would suggest this is nothing more than an annual trend in the housing market. Source: HMRC The main highlights from the graph above are: · The number of property sales drop from their peak of 150,000 per month at the end of 2007 (coinciding with the credit crunch/recession). · A peak in December 2010 coinciding with the end of the Stamp ...
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