Home Movers in Rugby Remain Unfazed by Upcoming General Election

As the date for the upcoming General Election approaches, recent research from Rightmove indicates that the majority of home movers remain resolute in their plans, with the election having little to no impact on their decision-making.

A comprehensive survey conducted by Rightmove, which included responses from over 14,322 individuals, revealed that a striking 95% of potential home movers are not deterred by the impending election. This data underscores the resilience and determination of home buyers and sellers amidst political uncertainties.

Analysing trends from previous election years, specifically 2015 and 2019, provides further reassurance. Rightmove's analysis of year-on-year buyer demand changes around these elections shows consistent market activity leading up to and following the vote. Demand, measured by the number of enquiries about properties for sale, increased notably during these periods, despite the political backdrop.

In the months leading up to the May 2015 election, buyer demand surged by 5% year-on-year in March and 6% in April. This upward trend continued through the election month, culminating in a 9% increase in May and an impressive 18% rise in June, post-election. Similarly, in 2019, buyer demand remained stable, with a 1% increase in October and a 4% rise in November. The election month of December saw a 13% year-on-year increase, followed by a 14% rise in January 2020.

Tim Bannister, a property expert at Rightmove, commented on these findings: "With the date now set for a summer general election, we anticipate that housing market activity will remain steady in the lead-up to the election based on previous patterns. This is further supported by the current attitude among home movers, with the majority indicating that the election will not affect their plans. Over the past four years, home movers have faced numerous challenges, including a global pandemic, a shortage of housing supply, and rapidly changing prices. For many, 2024 is finally the year to make their move, and they’re determined to proceed with their plans to secure their next home."

For residents of Rugby these findings are encouraging. The town's housing market has historically been robust, bolstered by its strategic location and excellent amenities. The anticipation of steady market activity through the election period suggests that buyers and sellers can continue with their plans with confidence.

Moreover, Bannister noted the potential for a particularly strong summer market post-election, contingent on factors such as interest rate movements and new housing policies. "Previous elections would indicate we may be set for a particularly strong summer once the election is over, especially if interest rates start to fall. However, every election is different, and it would depend on whether any significant housing policies are also introduced, so we’ll need to wait and see what happens to have a better view of activity for the rest of the year," he added.

For those contemplating a move, this research provides a positive outlook. The steady demand observed during past elections suggests that the market in Rugby is likely to remain active and resilient. Home buyers and sellers in the area can take heart knowing that political events are unlikely to significantly disrupt their plans.

Whether you are looking to buy or sell property, staying informed and connected with local estate agents like Ellis Brooke can help you navigate the market effectively. Our team is here to support you through every step of your property journey, ensuring you make the most informed decisions regardless of the broader political climate.