2024 Election Impact on the over 60s property market | Homewise

With Labour emerging victorious after the UK elections held on the 4th of July, significant changes are anticipated in the property market, particularly for over 60s looking for new homes. Here’s what these changes could mean for you and how Homewise can assist.

What’s happening in the property market?

  1. Stability and Confidence: Despite the recent changes in government, the property market is expected to remain stable. Often, election periods can cause brief pauses in activity, but things usually return to normal quickly, providing plenty of opportunities for buyers and sellers alike​.

  2. Labour’s housing policies: In their manifesto, Labour outlined plans to build 1.5 million new homes, focusing on making housing more affordable and easing planning restrictions. This is anticipated to increase the availability of homes and stabilise prices, which is great news for buyers.

What this could mean for the over 60s

If you’re over 60 and looking to move, now is a good time to start making plans. The stable market conditions post-election and the potential for increased housing supply make it an ideal time to explore buying a new home. However, navigating these changes can be complex.

Homewise can help

Homewise is here to make finding and securing the dream property for your retirement and can help you in several ways, including:

  • Home for Life Plan: This unique plan can help you secure your new property for thousands less than the market price. Every plan is unique, tailored to your individual needs.

  • Expert advice: Our team provides you with guidance during every step of your moving journey. We have a great deal of experience in understanding the property market and can help you to navigate it.

  • Personal support: We can assist you in finding your perfect property and support you through the buying process, helping to reduce the worry and stress you experience.

To find out how much you could save on your dream home, try our online quick calculator. It’s a quick and easy way for you to see the potential benefits of the Home for Life Plan.

If you have any questions or need further assistance, don’t hesitate to contact us. We’re here to support you during every step of your moving journey!

With the election bringing potential increases in housing supply and stable conditions, if you’re over 60, now could be a great time for you to buy a new home. If you have any questions or want to learn more about the Home for Life Plan and Homewise, get in touch with us today.