Labour win could herald boost in sales, says TVPN boss

Commenting on Labour’s landslide victory in the 2024 general election, Craig Vile, director of The ValPal Network ,said:

“The property market has been revving up since the beginning of the year. A cut in interest rates and the end to political uncertainty could be the things that finally put it into gear.

“Labour’s plans to help first time buyers with a mortgage guarantee scheme and their aim to build 1.5 million new homes are laudable but will take time.

“The housing market has proved it is resilient. A stable long-term Government, falling inflation and an imminent cut in the base rate might well be enough to unleash the pent-up demand that we know has been bubbling away for months.

“City commentators have been factoring in the possibility of a Labour Government for the last six weeks and in the City, the markets have remained steady throughout the campaign.

“The sizeable majority simply strengthens that message of stability. This could give prospective homebuyers the confidence they need to get moving.

“Agents should prepare for action and expect a hike in activity. And they should be prepared to put in the hard work to nurture every lead generated – the competition is going to be tough but more business will be there to be won.”

About The ValPal Network

The ValPal Network provides instant online valuation services and a range of additional products to over 1000 estate and letting agency brands with more than 4,300 offices across the UK.

The ValPal Network was winner of the Best in Sector Supplier of the Year Award for valuation tool at The ESTAS for five consecutive years.

It is a brand of Angels Media, also known for publishing online industry trade news websites Estate Agent Today and Letting Agent Today.

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Image credit: No.10 on Flickr, shared under CC2.0 licence