Experts reveal if you should buy or sell a house before the election - and you'll be very surprised...

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Typically in the run-up to a general election property buyers and sellers sit on their hands. The market gets stunned into stagnation and estate agents might as well take a month or two off.

But with just over five weeks to go, this snap election has caught everyone by surprise.

If your property is already for sale there is little reason to take it off the market, says Edward Church of agent Strutt & Parker. 'It's easy to get caught up in the theatricality of politics but the election will be over in the blink of an eye, and you'll be well-placed to catch any upturn in activity that follows the election.'

Yet there's already been an increase in the number of properties up for sale, according to Matt Thompson, head of sales at Chestertons. 'Don't miss out by waiting. There's been an increase in house hunters eager to take advantage of the larger pool of properties.' 'This summer we won't have built significantly more homes. We'll still have the cladding crisis, the leasehold crisis and be waiting for a Renters Reform Bill, and whoever wins, house prices and rents will be slightly higher come Christmas and just as unaffordable for most.'

'If a new government proceeds with the abolishment of Furnished Holiday Lets tax allowance, this would also be the last year of gaining those benefits,' she adds.Owners will lose tax benefits on mortgage interest, capital gains tax, allowable expenses and pension contributions.

 

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