UK Election Results: How this affects the property market

A hung Parliament: What do we do now?

We lay down the key facts for the post-election Nottingham property market and explain what you need to do now to ensure you make the most of this situation.

  • Value of pound has dropped
  • Future property values uncertain
  • Mortgage rates are currently low
  • Act now whilst the market is still stable!

Property Prices

Property prices in Nottingham have risen every month since January. This could change dramatically with the uncertainty that lies ahead. The pound has already dropped in value almost 2% since the election result was announced. Property prices could follow suit and we would advise that if you were looking to sell within the next few months, now would be the best time to consider a house valuation if you want to maximise its value.

Mortgage Rates

We have seen the lowest ever mortgage rates during 2017. You can potentially mortgage your home at a rate of 1.35% with a 25% deposit which has never really been heard of. The lower these rates are, the less you have to pay in interest! The pound dropping in value means mortgage rates will stay low, however this could all change very quickly once we find out who will run the country.  See a mortgage broker as soon as you can for free, impartial advice and make the most of low deals.

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Your Next Steps

Walton & Allen advise for you to seek advice on selling your property before the market changes. You could lose out on a lot of money if you do not act soon, although this is only our prediction.

You can gain a free, no obligation valuation and advice on your property by submitting your details below.

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