But if I’m honest, the last couple of years have been a bit too exciting. Indeed, going back to 2014, we have had huge political event after huge political event, each one causing significant uncertainty and upsetting the natural momentum of the market. Between the Scottish referendum, two general elections and the Brexit vote, that’s four straight years of upheaval.
And more than other industries, when there is some form of uncertainty ahead, the property market presses pause. The whole industry operates on confidence, and it’s difficult to find too much of that when people are preparing to head to the ballot box.
It’s absolutely understandable. Put yourself in the shoes of a property investor. Purchasing a property is a significant financial commitment, so it stands to reason that you want to feel confident when doing so. If there’s a chance of a change of government – or a radical shift in the political make-up of the country in which you live – then, of course, you would think twice before buying.
The data bears this out too. Last year, in the run up to the general election, the numbers of buyers and sellers both fell according to figures from the National Association of Estate Agents (NAEA).
It reported that, in April, the number of house hunters registered to each branch dropped to an average of 381, down from 397 the month before, while the number of available properties dropped to an average of 36 per branch from 39. The trade body reported a similar slowdown in the build up to the EU referendum.
Of course, it’s not just political events that have taken their toll. Over the last couple of years, we have also seen a succession of significant changes to taxation and mortgage underwriting, mainly aimed at the investor side of the market.
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From higher stamp duty to reduced tax relief on second homes, these measures have given everyone involved in the property market more to think about when it comes to a simple property transaction, let alone a more complex one.
Combined with the seemingly constant political upheaval, plenty of would-be buyers have chosen to hold back and bide their time to see how the dust settles before pushing ahead with a property purchase.
With that in mind, let’s hope that 2018 is a bit more… well, boring. Let’s cross our fingers that the government resists the temptation to meddle yet again with the way that property is taxed or the ways that people can borrow against property.
That’s not to say that these areas are perfect from a legislative or taxation perspective, but more that a period of relative calm and stability would go a long way to getting things moving again, rather than more well-intentioned fiddling at the edges.
In truth, I know that hoping for a truly quiet 2018 is asking too much. After all, the clock is ticking on the Brexit process; we are due to leave in March 2019, so you would think that we would have a far greater idea of what “Brexit means Brexit” actually means by the end of this year.
In terms of the bigger picture, we need those greater details in order to plan properly for the future. The current overwhelming uncertainty of our exit from the EU is not helpful, so more information on precisely what happens when we do go our separate ways next year will be welcome.
But, of course, those details may themselves act as yet another barrier to the property market rediscovering its mojo.
A full 12 months of quietness is almost certainly too much to ask, but if 2018 is at least less eventful and tumultuous than the last few years, then it’s fair to say that most people in the industry would be most grateful.


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