Inevitable short term uncertainty in the property market will result following the announcement of a snap General Election although a possible market bounce post-summer may result, according to commercial property agents Barker Storey Matthews – the East of England’s most active agent.
Ben Green, Director, Barker Storey Matthews Cambridge comments, “Business and markets dislike uncertainty and a seven week election campaign may put many property decisions by investors, developers, landlords or occupiers on-hold.
“However, it may be a small price to pay in a short time frame in considering the bigger property picture as it will give the elected government a renewed and clear mandate for Brexit negotiations in the two years to come.
“Anything which strengthens the UK’s position and clears away as many uncertainties as possible before entering the nitty gritty of negotiations is to be welcomed.
“Of course, accounting for recent election results including the EU referendum and the US Presidential race, opinion polls may not be able to give an accurate forecast.
“It would result in a somewhat complex scenario should the outcome of the General Election not be what many see as highly likely.”