We recently saw a Conservative result in the UK General Election. But what does this mean for the housing market?
Here in Scotland the market has stayed strong with high demand especially from first-time buyers, especially in Glasgow and Edinburgh. In fact those two regions were the fastest selling property markets in the UK. Across the rest of the country, property market activity declined, especially in the south, but estate agents are expecting a rebound in the coming months. With this renewed demand, now could be the time to reserve one of our apartments whilst you still can.
According to the Royal Institution of Chartered Surveyors, typically before a General Election people put any major plans on hold. However, professionals are currently more upbeat about the market’s prospects in the new year, with 12-month sales expectations reaching their highest level since the beginning of 2017.
Historically, the property market doesn’t like uncertainty and potential buyers are currently facing a triple whammy of uncertainty over the Government, Brexit and the calls for another Independence Referendum here in Scotland. The General Election has at least given people an idea on when we will leave the EU with the January deadline looking highly likely.
Going forward, sales look set to pick up over the next few months and optimism has improved. We expect strong gains here in Scotland.
If you would like to reserve an incredible home in one of our developments before the New Year rush, talk to us today.