Optimism in property market increases

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Optimism in property market increases Posted On 24 January 2020

Since the election back in December, recent statistics have shown that there has been increased optimism in the property market from buyers and sellers alike.

Between the period 8th December and 11th January, almost 65,000 properties were marketed. And with the election having been held on 12th December, many of these were marketed after the election: signalling optimism from new sellers.

But it’s not just sellers feeling optimistic; from 13th December to 15th January, enquiries to estate agents were up by 15% compared to the same period the year before.

“These statistics seem to indicate that many buyers and sellers feel that the election result gives a window of stability,” comments Miles Shipside, Rightmove Director and Housing Market Analyst. “The housing market dislikes uncertainty, and the unsettled political outlook over the last three and a half years since the EU referendum caused some potential home-movers to hesitate.

“There now seems to be a release of this pent-up demand, which suggests we are in store for an active spring market. The early birds are on it, with over 1.3 million buyer enquiries to agents since the election, up 15% on the same period a year ago.

“Some buyers are even further ahead and have snapped up a property already, with the number of sales agreed up by 7.4% on this time last year.”