Will The Upcoming Presidential Election Affect the Housing Market?
It probably will, according to research by Spicerhaar, an independent estate agents network.
The managing director of Spicerhaar found that before a general election, home-buyers have a lot of anxiety about election outcomes and the possibility of looming tax increases that dig into their budgets. However, historically there has been a strong trend in improved confidence post-election going back 50-years regardless of the result of the election.
Spicerhaart’s research looked at home prices and the number of property transaction prior to elections & post-elections. They found that in the run up to the 1997 election, the percentage increase in property value dipped from 2.4% to 1.3%. However after the election, house prices recovered and increased by 1.6%
Prior to the that same election year property transactions fell but then increased by 8% after the election.
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