Sellers delayed move because of election
However whilst the research, conducted by Bishop’s Move, found a quarter (24%) who put their house on the market in the last 10 months delayed their move by under a month, a further quarter (23%) delayed their move by 1-4 months as mansion tax proposals loomed over UK-based property transactions.
On a national scale, however, it found that over half (51%) said they weren’t influenced by the party manifestos and therefore didn’t delay their property transaction at all.
Younger generations looking to buy and sell property were seemingly more cautious of impending general election announcements. Of those surveyed, 67% of 16-24 year olds delayed their move by 1-4 months. In stark contrast, 58% of 45-54 year olds and 94% of those aged 55 and over said they didn’t delay it at all.
There were also significant differences when it came to gender attitudes. Three in 10 (31%) of men that had put their house on the market in the past 10 months delayed their move by 1-4 months to allow for the outcome of the 2015 general election to be known. This is compared to just 1 in 6 (15%) of women.
Chris Marshall, sales & marketing director at Bishop’s Move said: “Traditionally our industry witnesses a notable lull in the months leading up to a general election followed by a significant boost once official announcements have been made.
“2015 hasn’t been any different. However, it comes as something of a surprise that over half of those with their house on the market leading up to the general election didn’t delay their move at all.
“With analysts predicting the Labour mansion tax proposals would impact levels of UK-based property transactions, it begs another question: after many predicted a close-call election outcome, do these findings suggest that the 51% were confident of a Conservative victory?”