Will The Housing Market Pick Up After The Election ?

[Martin@AS Financial]

Interested on fellow CUKers thoughts on the above. I hearing differing views that generally the housing market goes quiet leading up to a general election and then picks up after. What are people's thoughts - is it a case of sit tight and see what happens for now or go for what is currently available ?

Good article here for you:

Analysis: After the election, things will take off | Opinion | Mortgage Strategy

[SpontaneousOrder]

I suppose the Tory plan to extend right to buy to more tenants may slow down the rises a little, whereas Labour will only push up prices by raising stamp duty allowance. OTOH Labour's plan to cap rent rises may lead to some BTL scum getting out of the market, or not getting into the market.

The best hope for a major correction is if somebody really screws the economy.

BTL scum?! lol. I hope you don't have a pension - lest you be a hypocrite.

[VectraMan]

Either way, I don't think there will be too much of a slow down after the election either, particularly given Labour's pledge to abolish Stamp Duty for FTB's up to £300k purchase price today, too.

I suppose the Tory plan to extend right to buy to more tenants may slow down the rises a little, whereas Labour will only push up prices by raising stamp duty allowance. OTOH Labour's plan to cap rent rises may lead to some BTL scum getting out of the market, or not getting into the market.

The best hope for a major correction is if somebody really screws the economy.

[DimPrawn]

The house prices are at least 40% over priced at the moment. Ever since the stamp duty change, estate agents are just picking a figure between 250k and 350K. I am a home owner too but would love to see a crash, just to see the estate agents crash and burn.

ZIRP money flooding into the big, govt owned banks, Help To Buy (i.e. taxpayer backed deposits), Tory pledge to give away all social housing to tenants for pretty much free, what's not to like?

[SpontaneousOrder]

House builders lead FTSE lower on Labour's rent control plans - Citywire Money

Labour taking control of the economy, and they haven't even taken power (yet).

It's medieval thinking.

[fullyautomatix]

The house prices are at least 40% over priced at the moment. Ever since the stamp duty change, estate agents are just picking a figure between 250k and 350K. I am a home owner too but would love to see a crash, just to see the estate agents crash and burn.

[Mark McBurney@CMME]

From our point of view at least, there hasn't been a slow down as such of late, prior to May 7th, in fact we're probably busier than we have ever been. I think December's changes in Stamp Duty have had an effect, ahead of a little bit of panic over what could happen with rates etc after May 7th if there's a government change.

Either way, I don't think there will be too much of a slow down after the election either, particularly given Labour's pledge to abolish Stamp Duty for FTB's up to £300k purchase price today, too.

[PurpleGorilla]

IMHO:

having fingers crossed that it won't implode on their watch.

I have fingers, arms, legs all crossed that the market DOES implode. 50% falls would be nice (I am a home owner).

[DimPrawn]

House builders lead FTSE lower on Labour's rent control plans - Citywire Money

Labour taking control of the economy, and they haven't even taken power (yet).

[alphadog]

IMHO:

The current govt has shown over the last five years that if you can reinflate the housing bubble, the economy will 'grow'.... ie, more 'winning' voters than 'losers' (or at least a good number of the losers can't be bothered to vote).

Therefore, they are all well aware that they need to continue inflating the bubble and it will be just a case of them having their fingers crossed that it won't implode on their watch.

[CoolCat]

Depends on a lot of things, including who wins and what they do, whether the international money markets continue to allow our national debt of 1.5 trillion plus about 0.5 trillion off balance sheet liabilities rise at around several billion a month at such low interest rates (this could end any time), whether foreign speculators opt out of the London property market, whether open doors immigration continues, and so very much more

[DimPrawn]

With an SNP controlled Old Labour minority govt full of punitive tax and waste policies?

[PurpleGorilla]

The bubble will keep being inflated by any political party that is elected at all costs. It isn't a market. Well certainly not a free market.

[kaiser78]

Interested on fellow CUKers thoughts on the above. I hearing differing views that generally the housing market goes quiet leading up to a general election and then picks up after. What are people's thoughts - is it a case of sit tight and see what happens for now or go for what is currently available ?