Throughout the UK the upcoming election and what it could mean to the housing market is a primary issue on many people’s minds. Given that the vast majority of residents in the UK are home owners (roughly 70%) compared to much lower figures found in other parts of Europe (with France reportedly having only 54% of residents being home owners and Germany a mere 43%) UK properties and the issues that affect them are being looked at closely, particularly with many people who are not seeking a first-time mortgage and simply wish to re-mortgage a property in the hopes of helping to give themselves an advantage in pulling out of the debt hole the recent recession caused.

Right now the major issues most people are facing are twofold: how will the stamp duty holiday affect them and their home purchase, and how will the current overall lack of supply of available property factor in to their own home in the future.

These two issues have been of particular interest for some time now for anyone looking to lock-in the best mortgage rate possible for their home purchase in the near future, especially ever since the initial decline in house purchases began in January when last year’s stamp duty holiday and most home purchases ended. Given the number of committee changes seen in the past by the labour party in regards to the housing sector (with 9 total groups being changed in the past 13 years) it is difficult to anticipate just what may be seen in the coming months following the election, however at the same time a change to the overall way things work may be just what is needed to jump-start the faltering real estate sectors in some areas such as Northern Ireland where house prices have already fallen by a total of 3%.