Comment: Why a hung parliament doesn’t make this the wrong time to buy
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It’s been a week of political surprises, with the hung parliament spelling widespread uncertainty – and not just for Theresa May.
Who could have predicted back in April, when the Tory leader called her snap general election, that we’d now have a surprise alliance with the DUP on the horizon (in fact, who outside of Northern Ireland had even heard of the DUP back in April?!)
But here we are, trying to work out what’s likely to happen next. The agents are divided, with some calling for the speedy formation of a government in order to keep uncertainty at bay, while others say there’s nothing to worry about – after all, people will continue to buy and sell regardless, right?
Ultimately, it’s in everyone’s best interests for some semblance of normality to resume in the wake of what was a disastrous result for Theresa May.
But anyone who was determined to buy before the election is unlikely to put their plans on hold until the revamped government gets organised. As Leaders’ Adrian Gill notes, “whatever may happen politically… the property market is more resilient than most. House prices have always been cyclical but risen over the long-term and this will not change.”
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I’m with Adrian. I’m not looking to move at the moment, but if I was, the changes currently taking place in Downing Street wouldn’t put me off. That said, I’d obviously prefer the new government to get organised sooner rather than later for the benefit of all areas of policy, housing included.
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