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Insight & Opinion

UK prepares for General Election while house prices continue to rise

Author: Gemma

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On Thursday, the UK heads to ballot boxes for its third General Election in five years. As was the case in 2017, the Prime Minister has called for the vote in an attempt to break the deadlock in Westminster and – as many people will have heard countless times over recent weeks – “get Brexit done”.

When the former PM Theresa May called for a snap election two years ago, the decision backfired; the Conservative Party lost its majority, rather than strengthening it, forcing it into a confidence-and-supply agreement with the DUP. Her successor Boris Johnson will be hoping for a better result this time around, and the polls suggest the Tories have a significant lead.

Table 1 – Guardian Poll Tracker

However, both the EU referendum in 2016 and General Election in 2017 highlighted the risk of placing too much trust in the polls. Indeed, the country now has no choice but to wait for the staggered announcements of the results, which will take place throughout Thursday night and Friday daytime.

Positively, while MPs up and down the country have been on the campaign trail, the UK property market has once again demonstrated its resilience. Last week, Halifax released its latest House Price Index, showing that UK house prices were 2.1% higher in November 2019 than they were a year before – the average price now stands at £234,625.

Despite Brexit and General Election uncertainty, demand for housing – including both homebuyers as well as property investors in the UK and overseas – has ensured prices have continued to rise.

Here at Experience Invest, we have witnessed first-hand how demand for bricks and mortar investment has held strong throughout 2019. Whether it’s long-term capital growth or immediate revenue generation, many investors are still exploring opportunities in both residential and commercial real estate markets.

As the year draws to a close, the majority of people – consumers, investors and businesses alike – are casting their eyes forward to 2020. And the question that is central to so many people’s plans is how they can achieve better returns on their investments next year.

We would encourage everyone to take a thorough and diligent approach to assessing the options available. Of course, if property investment is on your radar and you’d like to find out more about the opportunities Experience Invest has available, then do get in touch with a member of the team or book in a free, no-obligation consultation.

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