Property market shows lack of confidence in Boris Johnson

However the research also found that there is an overall lack of confidence from the property sector in the UK’s current Prime Minster. 55% of those surveyed believe the property market hasn’t been a priority for Boris Johnson.

The estate agent says continued uncertainty over Brexit has caused hesitancy in some pockets of the property market over the last two years, which has been drawn out by votes of no confidence, a Cabinet reshuffle and the calling of another general election.

However, over the last year many buyers and sellers have been getting back to business as usual – unfazed by the impact a deal or no deal Brexit will have on house prices. Almost a quarter of respondents to Jackson-Stops’ survey said that the principal reason for their move would be to downsize to a smaller home, while 17% wanted to upsize.

Regardless of what the political parties pledge within their manifestos with regards to housing, Jackson-Stops says the only way the elected party will increase the confidence people have both in them and the property market will be to follow through on key issues such as stamp duty land tax (SDLT) and incentive schemes such as Help to Buy.

Nick Leeming, chairman of Jackson-Stops, commented: “Once again the UK has been thrown into a state of flux due to the announcement of a general election. However, whilst the knee-jerk reaction from some sellers may be to hold off listing their property until after the general election result, in truth this will have little impact on the housing market simply due to the time of year it has been called. The market is historically quieter throughout this time as vendors often wait to list their homes in the new year. However, some homeowners will be waiting for the outcome of the general election before they put their home on the market, and so we therefore expect to see a greater increase in activity than the usual in January next year.

“The UK has suffered a long period of political turmoil since the referendum, and although this can impact people’s confidence in the market, it is important to remember that buying or selling a home isn't something that people do off the cuff. There is often an overriding reason for moving – whether this is being closer to a good school or childcare, or the need to upsize or downsize. These drivers do not simply stop because of changes to Government. As such, today’s buyers are likely to be more committed to a sale once agreed if they are ‘must-movers’ and we expect the market will see its usual uplift in the new year.”