Will the Summer Election affect the seasonal patterns of the Lancaster housing market?

It’s less than a week since the Summer election was called and already we have had conversions with at least 20 buyers/sellers about how it will affect the Lancaster housing market.

Whilst some may fear an election could pause market activity, here at JDG we are finding that so far, it is still business as normal. We can say that confidently having agreed 35 sales already this month and having received 4 new offers on homes yesterday alone.

Housing transactions move in seasonal patterns with peak activity usually in July or August. The delay from sale agreed to completion ( usually 3-4 months ) means the busiest time of the year is therefore April and May. Plus who doesn’t want to move in the summer when the weather tends to be dryer!

There doesn’t seem any real threat to sales activity. Sure, there will be the odd nervous person who will choose to delay their plans. There was with Brexit. There was with Covid and there always is with Christmas!

We could argue that the much larger influence on activity this year, and a beneficial one, will be the boost from the first interest rate cut. Let’s all hope that happens soon!

Thanks for reading