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Frustrated house buyers and sellers are returning to the market following the Conservative general election victory on Dec 12, report mortgage brokers.
Many would-be sales were held up in 2019 due to uncertainty over Brexit and a possible Labour government, with fears these could hit house prices.
In the four weeks to Nov 18 there were 15pc fewer new homes put up for sale than in the same period in 2018, according to estate agents Rightmove – the largest monthly drop since August 2009. The problem is worst in London.
But now property professionals say interest in house deals is growing as the Conservative majority gives reassurance.
Chris Sykes, of Private Finance, a broker, said: “There has definitely been an increase in interest, we have had more inquiries in the last two weeks than we have had in several months.”
Miles Shipside, of Rightmove, said: “Some of the pent-up demand from the wait-and-see buyers is starting to show signs of being released, despite the distractions of Christmas.”
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