OUR performance in May running up to the General Election was surprisingly good. This is encouraging. Now that the election is out of the way I expect the residential market to move forward despite the fact that the coming weeks are likely to be affected by political confusion.

Knight Frank research will monitor reaction across the country, from both buyers and sellers, and no doubt this will differ from area to area and market to market. However there is every indication that the market in this area will continue to thrive.

In recent weeks our viewing levels exceeded those of last year, offers are coming in and sales are being arranged at all levels. In the eight days of June preceding the General Election we arranged 58 viewing appointments on our properties.

James Roberts, Knight Frank’s Chief Economist commented on the afternoon of the election result: ‘While it is easy to assume the certainty of a clear majority government would have been the best outcome for the economy, actually this result has several positive points. Firstly, the government will probably need the support of several other parties, not just the DUP, to get any future Brexit deal through Parliament, in order to off-set any Tory backbench rebellions. Consequently, the pendulum has swung against Hard Brexit, as a compromise deal will have the best chance of commanding broad support in the House of Commons.

Also, on a day-to-day basis the next government will be restricted to putting consensual, not controversial, policies through Parliament. This probably rules out any more populist taxes on property, or increases in business regulation. Finally, the swing against the SNP could mean that the idea of a second Scottish independence is now quietly booted into the long grass.

In light of the current momentum in the investment market and relative attractions of the UK, plus the likelihood of a weakening currency, we do not expect this result to have a negative impact on overseas investment to the United Kingdom, and believe that occupational markets will remain resilient.’ At the end of the day life goes on and people still need to run their lives according to their own personal circumstances. The UK continues to benefit from economic growth and low interest rates. The underlying strengths of the UK economy remain in place; ultimately property is a long term investment which should encourage demand as people cannot put their lives on hold.

If you are contemplating a move, now might prove to be a prudent time to sell – we have a positive outlook for the rest of 2017. The busiest sector of the market at the moment is between £650,000 and £1,000,000 and if you would like to discuss your property plans in confidence with us, we would be delighted to hear from you.