Analysis of house price data since 1983 across quarters in which elections fell, shows that property prices surge on average 3.2% post-election - compared to dampened pre-election quarterly growth of 0.2%. If this trend holds true of 2015’s election, then post-election property prices are set to rise by a UK average of £6,539.
Paul Smith, CEO at haart, comments: “Six weeks is a long time in the property market and long enough to tie up a favourable deal. Wise first-time buyers and second steppers will be the biggest beneficiaries of pre-election transactions as our data shows prices are at their lowest this year so far.
However, our analysis of previous house price fluctuations in election years shows that every post-election quarter experiences a spike in the average property price. For sellers wanting to move up the property ladder, holding out post-election to sell means the price of their current home will increase, however, the increase in price on their next purchase will be significantly higher than the value added to their current home in the next few months.”