Number of property transactions at highest point since February 2014
- 31st July 2015
- Selling Property News
Rising market confidence in the wake of the election boosts property sales by 8%
Residential property sales for June 2015 increased by 8% compared to the previous month, demonstrating the growing confidence of sellers and buyers after the General Election.
Statistics from HMRC reveal that this jump in the number of sales pushes the total amount of transactions to its highest level since February 2014.
Notably, according to recent research, the number of properties listed in London rose by 8.1% in June, after a recent slowing of the market. With the election producing a stable, majority government instead of creating the uncertainty that a hung parliament promised, sellers and buyers were confident in market growth as well as the overall positive economic climate.
More than three quarters (78.1%) of London boroughs saw an increase in new properties being listed over June, with seller confidence reassured by the economic outlook. City and Westminster (29.5%) and Islington (28.8%) saw the largest rises in new property listings in Greater London.
Stephen Ludlow, Chairman at ludlowthompson, explains: “The stability of the election result has boosted London’s housing market.
“Sellers are more confident that the healthy property market will allow them to sell their property for an attractive price. In addition, investors will be encouraged that London property remains one of the most attractive investments.
The stability of the election result has boosted London’s housing market
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