WITH the General Election seven months away, buying a new home in the next few months could be a savvy move, says national estate agency Strutt & Parker.

There are plenty of houses on the market with owners committed to selling before the end of the year, creating an opportunity for home seekers to buy at realistic prices.

Sally Noakes from the Harpenden office, says: “Last November, Strutt & Parker had a surge in activity and this month looks like another November to remember in terms of the number of sales being agreed.”

The NAEA September Housing Market Report found that the majority of houses for sale are being sold under their original asking price.

Stephanie McMahon, head of research at Strutt & Parker, says: “It is really not surprising that prices are stabilising after the dramatic price increases we saw over the past 12 months. We have seen these conditions before in the run-up to a general election when speculation mounts. It is a recognisable pattern and we do not believe it spells doom for the property market in the long term.”

James Mackenzie, head of Strutt & Parker’s country department specialising in homes above £2million, agrees: “The prime country market had lower than expected transaction levels at the beginning of autumn, partly due to the hangover
from the Scottish referendum and party conferences announcing the threat of bringing in a mansion tax.

“However, what’s left now is a market that will benefit from committed buyers and sellers undeterred by taxation and motivated instead by completing before the election.

“Now is the time the gap between London and country markets will start to close. After the election and the market re-stabilises, we predict equity-rich Londoners will be more inclined to move into the commuter belt with increasing demand putting prices up again.”

Sally concludes: “If you want to buy a house, now is the time before potential price increases post-election.”

Strutt & Parker Harpenden, High Street, AL5 2SJ.
Telephone: 01582 764343
Email: harpenden@struttandparker.com
Website: www.struttandparker.com