Are you waiting to sell your Lancaster home because of an upcoming election? If so, you are not alone. We see it everytime there is an election. We saw it with Brexit. We saw it with Covid. We even see it when Christmas is coming up!
Except for Christmas, why do people wait? Often it comes down to the feeling of uncertainty. People fear change, they fear the unknown. That’s why we thought we would take a look at the impact of the past six elections on prices in the housing market.
Did you know? The average price growth in the three months leading up to an election was 2.2%, whilst the three months following showed similar growth at 2.1%.
Price growth in the three months following an election only outperformed the preceding period in two out of the last six elections (2015 and 2019).
So what does this tell us? Waiting until after the election to put your property on the market, in the hope of achieving a higher price, could be a risky strategy. With spring underway and market activity bouncing back, now could be the best time to sell.
So what are you waiting for? Buyers are back out looking. Our Lancaster team agreed 13 new sales last week, taking us to over 130 sales agreed so far this year. We have registered over 800 new buyers in 2024 alone.
If you are thinking of moving in 2024, can we talk?
My name is Michelle Gallagher. You can email me at [email protected] or call me on 01524 843322. I love to chat property!
Thanks for reading
Michelle x
