Market Update June 2024

Will the General Election Have an Impact on the Property Market?

Market Update

Is Now a Good Time to Buy a House in the UK?

Based on recent analysis and insights from various sources*, here is an evaluation of how the upcoming UK general election on July 4th could impact the property market:

  1. Steady Buyer Demand1: Buyer demand is expected to remain steady leading up to the election, based on trends observed in the 2015 and 2019 elections. Approximately 95% of buyers indicated that the election will not affect their moving plans.
  2. Slight Slowdown in New Sales2: Prediction of a slight slowdown in new sales being agreed in the weeks leading up to the election, as some buyers may delay decisions until after the vote. However, most buyers already in the process are likely to push through and complete their purchases.
  3. Post-Election Boost1:  The property market could see a strong boost after the election, similar to the 18% increase in buyer demand seen in June 2015 post-election. Expected lower interest rates later in 2024 could further fuel this rebound.
  4. Muted Impact Due to Policy Similarities2: The impact of the election may be more muted compared to previous elections, as there is not a significant divide in housing policies between the two main parties. Neither has proposed radical changes that could significantly disrupt the market.
  5. Prime Market Volatility4: The high-end prime markets, especially in London, have historically shown some volatility around elections due to potential tax policy changes affecting wealthy buyers. However, major threats like a “mansion tax” do not seem to be on the agenda this time.
  6. Short-term Price Sensitivity4: uncertainty around the election outcome could lead to short-term price sensitivity and a cautious approach from international buyers in the prime markets until the landscape becomes clearer post-election.

UK House Prices Return to Growth: Market Shows Signs of Resilience

Recent data indicates that UK house prices have begun to grow again after a period of stagnation, suggesting that the market is showing signs of resilience. This update explores the factors contributing to this rebound and how Elleah Property Finance can assist investors in navigating the current market to find the best finance deals.

Factors Contributing to Market Resilience3

  1. Improved Economic Conditions: As the broader economy stabilizes, consumer confidence has improved, leading to increased activity in the housing market. More people are looking to buy homes, which drives demand and, subsequently, prices.
  2. Low Mortgage Rates: Continued low interest rates have made borrowing more affordable, encouraging more buyers to enter the market. This environment is particularly favorable for investors seeking to expand their property portfolios.
  3. Government Policies: Supportive government policies, such as help-to-buy schemes and tax incentives, have played a significant role in stimulating demand for housing. These measures have made it easier for first-time buyers and investors to purchase properties.
  4. Supply Constraints: A shortage of available homes has kept upward pressure on prices, as demand outstrips supply in many areas. This dynamic is especially pronounced in urban centers and desirable suburban areas.
  5. Regional Variations: Growth has been uneven across the UK, with some regions experiencing more significant price increases than others. Investors need to be strategic about where they invest to maximize their returns.

How Elleah Property Finance Can Help

At Elleah Property Finance, we understand the complexities of the current housing market and the challenges that investors face. Our expertise in mortgage brokering allows us to provide tailored advice and finance solutions that align with your investment goals.

  • Expert Advice: Our team of experienced brokers can offer insights into the best areas to invest in based on market trends and regional growth patterns.
  • Competitive Rates: We have access to a wide range of mortgage products and can help you secure competitive rates that suit your financial situation.
  • Customized Solutions: Whether you are a first-time investor or looking to expand your property portfolio, we can customize finance solutions to meet your specific needs.
  • Supportive Process: We guide you through the entire mortgage process, from application to approval, ensuring a smooth and stress-free experience.


The UK housing market’s return to growth is a promising sign for investors. With the right strategy and financial support, this period of resilience offers numerous opportunities for growth and profitability. Elleah Property Finance is here to help you navigate these opportunities and secure the best finance deals in the current market.

For more detailed insights and personalised advice, contact Elleah Property Finance today.

*Sources:1 CityAM, 2 Zoopla, 3 Guardian, 4 Savills


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