At FSS, we are aware that elections have traditionally introduced tension in the property market. However, the current electoral climate is presenting unique opportunities. Many investors and homebuyers are capitalising on the uncertainty to secure favourable deals and take advantage of competitive pricing before any potential changes post-election.
“The market remains strong in the Harrogate and district area, due to the fact that supply and demand is still in favour of the seller.” (Richard Smailes, Partner of FSS). Strong economic fundamentals, including high employment rates and steady wage growth continue to fuel buyer confidence, keeping the market robust (annual price change is up by 7.4%- GetAgent). Additionally, the potential of a lowering interest rate and limited housing stock are driving demand, leading to competitive bidding and sustained property values.
Investors view real estate as a tangible asset (on a yearly basis prices have increased by 6.9%- Plumpot). The market can withstand political fluctuations better than more volatile financial markets. Therefore, the underlying strength of the market, driven by the solid demand and favourable financial conditions, ensures its continued resilience despite the electoral uncertainties.
The Harrogate and district area in particular has a strong local economy, desirable living conditions and steady demand. Harrogate’s appeal due to its high quality of life, vibrant community and beautiful parks mean that the market will continue to thrive. Additionally, the local governments proactive measures to support housing development and maintain community amenities bolster market confidence, creating a resilient property market that remains buoyant.
“The stimulus of a new government and lower interest rate will no doubt spur the market on, so if you are looking to buy don’t wait for the market to take off before you act”. Delaying a purchase could mean facing higher prices and increased competition later on; securing a home now can lead to significant long-term benefits. Make sure to take advantage of the present favourable market conditions, so that FSS can help you to secure your dream home.