“While spring normally sees a flurry of activity, the snap election has slightly dampened buyers’ and sellers’ interest and means that transactions have been steady rather than spectacular. The temptation to adopt a ‘wait and see’ approach has kept the market on a broadly even keel, with activity dipping slightly from April to May.
“Despite this surrounding uncertainty, the market has nevertheless remained resilient so far during 2017 with residential transactions running at over 100,000 for five consecutive months. This is no mean feat at a time when many observers have been looking for signs of Brexit and the snap election precipitating a decline.
“Non-residential transactions over the course of the past two years have also remained relatively stable, suggesting sentiment in the commercial sphere continues to hold up. Those forecasting a cool summer in the property market may be jumping the gun.”