Property market positive after election result

Estate agents have reacted positively to the result of the general election, giving Labour a big majority.

Nathan Emerson, chief executive at Propertymark, one of the leading professional bodies for estate and letting agents, commercial agents, auctioneers, valuers and inventory providers, said: “The announcement of a general election last month may have caused movement in the housing market to slow down, but now that we know we have a new government with an overall working majority, Propertymark remains optimistic that house prices will start to rise during the summer months, which is a naturally busy time for the housing market.

“Beforehand, it would be good for the new UK Government to clarify what its housing policies are going to be quickly, and a rumoured interest rate cut from the Bank of England hopefully becoming a reality in August would help trigger a substantial amount of confidence in the housing sector yet again.”

Propertymark has 17,800 members nationwide.