Positive Outlook for South West Property Market as Prime Minister Announces Early General Election

23rd May 2024


Industry News


The Prime Minister has announced an early date for the general election, alleviating concerns that we might have to wait until later in the year. This development brings a renewed sense of certainty and optimism to the market and at Webbers we believe this is set to benefit the housing market here in the South West.

Malcolm Prescott, Managing Director of Webbers, states, "The property market here in the South West is gaining momentum nicely, in tune with the better weather we have been experiencing. This, together with the positive news on inflation falling again and the certainty of lower interest rates around the corner, is very encouraging."

Traditionally, the property market in the South West enjoys a seasonal boost during this time of year. Our recent property exhibition in Guildford highlighted that there are plenty of buyers eager to relocate from the South East Home Counties. Additionally, there has been a noticeable increase in first-time buyers entering the market, driven by the prospect of falling mortgage interest rates.

Webbers is pleased to report that there is currently more choice for buyers than at any time in the past two years. We have seen a 14% increase in new listings year-on-year across the UK, with many home-sellers eager to enter the market. History has shown that there is often a renewed positivity in the property market post-election. With only six weeks until the election, now is an opportune time to get moving, taking advantage of the current choice and the potential for lower mortgage rates.

As we celebrate 100 years of helping people move, our experienced team at Webbers is here to assist, advise, and guide you through the process. We are dedicated to ensuring a smooth and successful transition for all our clients.

If you are considering selling your home, we encourage you to take advantage of this positive climate. Contact us today to discuss how we can help you achieve your property goals.

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