"The good news is that regardless of where you are looking to sell a home, market activity is building across the board and has been since the start of the year."
- Director of Benham and Reeves, Marc von Grundherr
Homebuyers are currently most active across areas with a Liberal Democrat majority, whilst Conservative strongholds are home to the lowest level of buyer demand of the big three political parties.
London lettings and estate agent, Benham and Reeves, analysed current buyer demand levels across the top 10 strongholds for the Labour, Conservative and Liberal Democrat parties, looking at how buyer appetites currently differ ahead of the upcoming election.
The analysis found that when it comes to the highest demand by political party, the Lib Dems top the table.
Across the top 10 areas of the nation with the largest majority of Lib Dem councillors, 46.4% of all homes currently listed for sale have been snapped up by buyers.
Eastleigh in Hampshire ranks as the strongest Lib Dem home selling hotspot, with 59.1% of all homes currently on the market sold subject to contract or under offer, with St Albans (52.9%) and Cheltenham (50.7%) also sitting within the top three.
What about Labour and the Conservatives?
Labour sits second of the big three political parties when it comes to current buyer activity. Across the top 10 areas with the largest majority of Labour councillors, 43.3% of all homes listed for sale have already found a buyer.
Barking and Dagenham is the Labour stronghold home to the highest level of buyer demand at 55.5%, followed by Halton (54%) and Chorley (49.5%).
It’s bad news for home sellers in Conservative strongholds, with the top 10 areas home to the highest proportion of Conservative councillors currently seeing just 42.1% of all homes sold - the lowest level of buyer demand of the big three political parties.
However, that’s not to say that all Tory strongholds are suffering from low levels of buyer market activity, with 61.3% of homes in Dartford already sold subject to contract or under offer - the highest level of buyer demand of all areas analysed.
Director of Benham and Reeves, Marc von Grundherr, commented: “It’s looking set to be a Labour landslide this election but when it comes to the highest levels of buyer activity across major political strongholds, it’s areas with a Lib Dem majority that are currently home to the most active markets.
"The good news is that regardless of where you are looking to sell a home, market activity is building across the board and has been since the start of the year.
"Once the noise of the election has died down and with the prospect of an interest rate cut on the horizon, we only anticipate that this momentum will strengthen even more throughout the remainder of the year.”
