After months of sitting tight, nervous homeowners are finally putting their properties up for sale, with areas that voted Labour and Lib Dem seeing the biggest increase. The recent election seems to have given people more confidence, with a 13% increase in new homes hitting the market across the UK compared to this time last year.

Labour and Lib Dem constituencies saw the biggest jump in new listings. Areas that stayed loyal to Labour saw a 12% rise, while Lib Dem heartlands enjoyed a 17% boost. Interestingly, Conservative areas bucked the trend with a 2% drop in new listings.

It seems the thrill of a political shake-up also got people moving, with constituencies that switched parties seeing a 17% rise in new properties up for grabs.

Quick Sales and Fewer Discounts – Is the Market Heating Up?

Good news for sellers – homes are being snapped up faster than a politician on a photo op! Almost a quarter (24%) of homes found buyers within just two weeks of going on the market in July. That’s a big leap from the 15% during the same period last year.

Experts think this is partly down to falling mortgage rates and less political uncertainty making buyers feel more confident. The North of England, in particular, is experiencing a boom, with 30% of homes selling within two weeks of listing – a 14% jump compared to last year!

And if you’re thinking of selling, now might be the time to hold your nerve. Only 2.2% of sellers accepted offers more than 10% below their asking price in July. That’s the lowest it’s been since mortgage rates went haywire at the end of 2022, suggesting sellers are feeling more optimistic about getting a good price.

A Mini-Boost, But Not a Total Transformation

Aneisha Beveridge, head of research at Hamptons, weighed in on the findings: “The election wasn’t a make-or-break factor for everyone, but having a clearer picture of the political landscape has definitely encouraged more sellers to take the plunge.”

However, Beveridge cautioned against getting too carried away: “The ‘new government’ buzz has given the housing market a bit of a nudge, but it’s not exactly booming.”

So, while the election might not have caused a property earthquake, it seems like the dust is settling and buyers and sellers are cautiously stepping back into the market.