Historically speaking, an upcoming general election can have a significant effect on the property market as buyers tend to wait to see what the outcome of the election is before committing to buying or selling a property.
However, with political uncertainty very much becoming the norm in recent years, buyers are showing few signs that this snap election, which has a shorter lead-up time than usual, will affect the market too much. Results of a survey by eMoov, show that just 18.4 per cent of sellers and 17.5 per cent of buyers said that they would wait and see what the result of the poll is before continuing with a sale or purchase.
Nevertheless, there will always be some sheepishness in the market, and buyers could use political turmoil as an excuse to not push through with a purchase. Here are some ways to make selling your property easier in the lead up to an election:
Realistic property pricing
Price is everything. Some sellers understand the need to lower their asking price but some persist with high prices, stating the increase in property value in the UK. Yes, on the whole, UK property prices have increased, but this varies from area to area.
Data from Zoopla shows that over 30 per cent of properties on the market has been discounted. With a competitive and reasonable price, you will always attract buyers. Look at what similar sized properties in your location sold for recently.
Be wary though, if you go too low, you threaten to undersell your property’s true value.
Invest in the property
It may seem silly, investing in a property that you are looking to move out of, but making much-needed changes can be the difference between buyers making an offer and not. There are many low-cost options to add value to your home but spending thousands of pounds on improving the bathroom or kitchen will make a bigger impact on the asking price.
Choose the right estate agent
A good agent will be able to talk you through the housing trends in the area in which you are looking to sell.
Having been at the core of Market Harborough’s housing market for a number of years, our team has an extensive knowledge of every area in the Harborough district. We don’t pretend to understand the whole of the UK’s property market – but we do know our local area because that’s where we direct all of our time.
Estate agents in Market Harborough
If you are looking to buy or sell a property in Market Harborough or a surrounding village, call Naylors Estate Agents today on 01858 450 020 for advice you can trust.