{"id":2742,"date":"2017-05-10T16:00:42","date_gmt":"2017-05-10T15:00:42","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2742"},"modified":"2023-09-29T10:26:54","modified_gmt":"2023-09-29T09:26:54","slug":"uk-house-prices-lead-general-election","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/10\/uk-house-prices-lead-general-election\/","title":{"rendered":"UK house prices in the lead-up to the General Election"},"content":{"rendered":"<p><strong>There are only a couple of weeks left until Brits get to decide yet another time who they think should be running their country, but what does time time bring for Britain\u2019s property market?<\/strong><\/p>\n<p>Earlier this week, property firm Savills warned that the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/24\/is-the-snap-general-election-good-for-the-northern-powerhouse\/\" target=\"\" rel=\"noopener\">General Election in the UK<\/a> will hit the housing market over the next few weeks to come, with transaction values possibly falling.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"LOXyZQZ1YI\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/25\/theresa-mays-general-election-will-impact-investor\/\">How Theresa May\u2019s General Election will impact the Investor<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;How Theresa May\u2019s General Election will impact the Investor&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/25\/theresa-mays-general-election-will-impact-investor\/embed\/#?secret=46amMLkXdX#?secret=LOXyZQZ1YI\" data-secret=\"LOXyZQZ1YI\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>In addition to this, other statements during the company\u2019s annual meeting revealed that sales volumes in Britain\u2019s <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/05\/prime-property-country-britain-saw-increased-growth-rate-start-2017\/\" target=\"\" rel=\"noopener\">prime residential market<\/a> have experienced a slowdown since new stamp duty rules came into play in April 2016.<\/p>\n<p>This drop, although certainly present, needs to be seen in context. The comparison that happens a lot of the time is one between March 2016 and March 2017 or similar, which means between the month when the country experienced a <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/06\/20\/stamp-duty-stampede-shows-its-consequences\/\" target=\"\" rel=\"noopener\">major increase in sales<\/a> due to people rushing to buy before the new stamp duty rules and the same month one year later, a traditionally quiet time that was overshadowed by developments like <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/25\/article-50-ruling-expect-uk-property\/\" target=\"\" rel=\"noopener\">triggering Article 50<\/a>.<\/p>\n<p><strong>So what\u2019s actually happening to the market?<\/strong><\/p>\n<p>First and foremost, one thing hasn\u2019t changed. And it probably won\u2019t for quite some time. <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/09\/february-house-price-index-supply-remains-close-record-lows\/\" target=\"\" rel=\"noopener\">Housing supply in Britain<\/a> is incredibly low. There simply aren\u2019t enough houses. And this basic fact by nature increases the value of the product that\u2019s in undersupply. In our case that\u2019s property.<\/p>\n<p>However, what\u2019s maybe even more important is, that a lot of those statistics and numbers are driven by London and the South East. Which is a completely different beast, one that\u2019s been <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/02\/london-drop-started-prime-sales-fall\/\" target=\"\" rel=\"noopener\">hit extra hard by the stamp duty changes<\/a> and not only investors but also renters being priced out of the market and making them move. Whilst those parts might not be doing so well, areas in the North are.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"KM2cGRoExo\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/10\/05\/governments-buy-let-taxes-will-create-rental-supply-crisis-2025\/\">The Government\u2019s buy-to-let taxes will create a rental supply crisis by 2025<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;The Government\u2019s buy-to-let taxes will create a rental supply crisis by 2025&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/10\/05\/governments-buy-let-taxes-will-create-rental-supply-crisis-2025\/embed\/#?secret=spLw8NvhBS#?secret=KM2cGRoExo\" data-secret=\"KM2cGRoExo\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Sellers in England\u2019s North West are constantly achieving their asking price, if not more. Investment initiatives and new developments continue to appear in a desperate attempt to fix the basic, underlying issue: <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/23\/bad-manchesters-housing-crisis-really\/\" target=\"\" rel=\"noopener\">not having enough homes for everyone<\/a>.<\/p>\n<p>So whilst some think it may be wise to put decisions on hold until after the election, another way to look at it may be to factor in the basics of demand and supply. <strong>And make a focused decision driven by yields and returns rather than fancy locations and prestigious names.<\/strong><\/p>\n<p>Because regardless of who is going to win the election, neither supply nor demand are going to change anytime soon.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are only a couple of weeks left until Brits get to decide yet another time who they think should be running their country, but what does time time bring for Britain\u2019s property market? Earlier this week, property firm Savills warned that the General Election in the UK will hit the housing market over the<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/10\/uk-house-prices-lead-general-election\/\" title=\"ReadUK house prices in the lead-up to the General Election\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[74,295,35,48,75,37],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2742"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=2742"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2742\/revisions"}],"predecessor-version":[{"id":6096701,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2742\/revisions\/6096701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4359"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=2742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=2742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=2742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}