Election slows house price rises

Growth in house prices has slowed, after sellers eager to sell their properties ahead of the general election rushed to the market. According to the Royal Institution of Chartered Surveyors (RICS), vendor activity last month reached its highest level since May 2007, prior to the introduction of home information packs (HIPs). For the third month in a row, the number of new sellers outstripped the number of enquiries from new buyers, and while house prices continued to rise, the rate was slower than that seen in February. "With the general election approaching and uncertainty growing over the political direction of the country, many vendors who were previously inclined to sit on the sidelines now appear eager to put their properties on the market," said RICS spokesperson, Ian Perry.


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