General Election Result
It would be unrealistic to think that the unexpected result of the General Election won’t have some effect on the country property market. People hate uncertainty and this, on the face of it, will perpetuate that.
However the Conservative party's decisive decision to back Teresa May in the forming of a new government will help while the dust settles. Hopefully after that they will, from the lessons learnt, focus on a clear strategy for Brexit, the British economy and national security. Stability and confidence is what we want and I hope that out of this scenario we will see that.
I have spoken to both buyers and sellers since last Thursday, 8th June. There is no one who is not surprised by the outcome but most seem pragmatic and take the view that life must go on and business as usual. To date we have seen limited negative reaction. Indeed a number of sales went through on Friday and it was a good day for offers as well!
I am recommending to both buyers and sellers that they maintain a sense of proportionality. The Conservatives have the largest number of seats the highest percentage of the vote and in the predicament they are in they will have to listen and govern efficiently. It won’t be as easy as it might have been, and we shall probably remain relatively short of buyers and stock, but I see no reason why we should not have a reasonable property market for the rest of this year in the Cotswolds