Despite numerous reports that prospective buyers and sellers delayed their property transaction to wait and see the outcome of last month’s general election, it seems that many buyers weren’t influenced at all. Despite the positive economic outlook there is a chronic shortage of property for sale and let in the Rugby area. As such, we are extending our June offer for vendors in the Rugby area.
Over half of 1,000 survey respondents said they hadn’t been influenced by the party manifestos and therefore chose not to delay their property transaction at all.
Removals firm Bishop’s Move’s survey discovered that Brits who had their home on the market during the past ten months delayed their move by an average of 26 days to allow for the general election.
The research also found a quarter of those who put their property on the market in the past ten months delayed their move by under a month, a further 23% delayed their move by 1-4 months as mansion tax proposals loomed over UK-based property transactions.
Younger generations looking to buy and sell property were seemingly more cautious of impending general election announcements. Of those surveyed, 67% of 16-24 year olds delayed their move by 1-4 months. In stark contrast, 58% of 45-54 year olds and 94% of those aged 55 and over said they didn’t delay it at all.
“Traditionally, our industry witnesses a notable lull in the months leading up to a general election followed by a significant boost once official announcements have been made. 2015 hasn’t been any different. However, it comes as something of a surprise that over half of those with their house on the market leading up to the General Election didn’t delay their move at all,” says Chris Marshall, Sales & Marketing Director at Bishop’s Move.
“With analysts predicting the Labour mansion tax proposals would impact levels of UK-based property transactions, it begs another question; after many predicted a close-call election outcome, do these findings suggest that the 51 per cent were confident of a Conservative victory?”
Despite this good news we are seeing a massive shortage in houses coming to market for sale and rent. Continued high demand and an influx of people and businesses moving into the Rugby area has created a very buoyant rental market, and as our town increases in size this will only continue.
The sales team are reporting the same, with house prices going “through the roof” – if you pardon the pun! We are seeing a trend in houses selling above their asking prices, and in some cases the asking prices were comparably “high” to begin with. It really is a demand led market and when there is a lack of supply, prices increase even further.
We are extending our June offer into July – Instruct us to sell your home and you will be entered into a draw to win £5,000. You will also get 25% off your selling fee.
So contact the Rugby office today – 01788 560905 or send a callback request/email form our website and make sure you quote CHJ2 as a reference. HAVE FRIENDS OR FAMILY LOOKING TO SELL? Refer them to us and get £50 vouchers of your choice, and your referral will also benefit from the promotion!
Adam McHenry – Director & Head of Sales.
Source (Choices.co.uk, 17th June 2015)