Whatever your political bias here at City Res we are glad to see the back of the election. Apart from watching the politicians promising the earth to sway voters we saw a noticeable drop off in both sales and lettings activity during late April/early May. Neither were particular positive in our view and although politics are still on the front page (who is the next Labour leader?) some element of normality has been restored.
With the election providing a clear majority for the Tories the market has really taken off with above average activity for the time of year in both sales and lettings. Whilst not everyone will agree with their politics the market hates uncertainty and this was exaggerated with major changes in the housing sector proposed by the likes of Labour (rent controls, abolition of fees, mansion tax etc).
So let’s hope we continue to see the market decide whether prices go up or down or whether developments get built or not rather than the politicians!