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Property Market In After Election Bounce

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There is a bounce in the UK housing market as the election and HIPs are out of the way. The most recent figures from Nationwide say house prices rose one per cent last month, and are up more than ten per cent in the past year.

Halifax says they're nearly seven per cent higher than a year ago, while the Royal Institution of Chartered Surveyors is predicting a post-Election bounce, with modest increases expected across most of the country in the next three months.

Election uncertainty has led to a slowdown in transactions in the capital, with Central London sales dropping off by 25% between March and April, according to top-end estate agent Knight Frank.

Meanwhile those seeking to sell a home may want to take sound advice from The Financial Times who issued 10 tips to help you sell your home these included:

1) Know the current situation in the housing market

2) Price your property realistically

3) But don’t go too low

4) Smarten up your place to attract a buyer

5) Beware of guzundering (where buyers pull the price down at the last minute)

6) Avoid delays in the selling process

7) Wait for a firm offer on your property

8) Eliminate the problem of chains

9) Choose the right estate agent

10) Check the contract

 

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