The estate agency’s research revealed the number of property transactions fell during periods containing an election, looking at figures from 1979 to the present day.
Your Move claimed the more seriously the public take the election, the larger the scale of the disruption to the property market as potential homebuyers or sellers are distracted by the political process or waiting until it is over before entering the market.
In the 1987 and 1992 elections when turnouts were strong at over 75%, property transactions subsequently fell by 3.4% and 2.4% respectively. However, in 2005 when there was a modest 61.4% turnout, a 5% increase in transactions followed.
David Newnes, managing director or Your Move, said: “If the Conservative party increases its share of the vote, the housing market should heat up in the three months following the election.
The number of seats and the eventual winner is not important – that’s all down to the lottery of first past the post voting – but the number of votes that the Tories receive is crucial.
“If the Tories do well in May, or sooner, the bounce back should be even more pronounced than usual. With the abolition of Home Information Packs (HIPs) on the agenda, as well as the promise to increase the Stamp Duty threshold to £250,000, many potential buyers and sellers are waiting to see if the Tories get into power.”
Mike Fitzgerald, sales director of The Emba Group, said: “The trends observed by Your Move don’t lie, but the question needs to be asked whether the current electorate has a different mindset from previous generations.
“If the Tories come into power, abolishing HIPs and increasing the Stamp Duty threshold would have to be pretty immediate or buyers would just drag their feet until the proposals are followed through.”
