Election exacerbating UK property slowdown

Uncertainty over the general election result has contributed to the recent slowdown in the housing market.

The election had exacerbated the market’s poor performance in May.

Buyers and sellers were adopting a “wait and see” approach.

A majority of surveyors actually expect price to fall over the next few months, but to recover in the longer term.

Annual house price inflation had slowed to 3.3% during the month, with prices falling by 0.2% over the last quarter.

Uncertainty relating to the general election may have contributed to what appears to have a drop in transactions in both buying and selling.

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This post was written by Debbie Brown