A recent report has shown that a rising number of homeowners in the UK are now rushing to try and sell their properties before the general election takes place on May 6^th. Officials from the Royal Institute of Chartered Surveyors claim that homeowners that were only considering selling previously were now determined to sell as quickly as possible.

With the very real threat of a hung parliament following the general election next month homeowners are panicking about what might happen if they wait around to sell their homes. It is thought that many of these people may have been considering selling for close to two years and that the up and coming election may spur them on.

RICS officials claim that the number of homeowners now putting their properties up for sale has increased to its highest level in around three years. The number of sellers is now outstripping the number of buyers, and officials believe that this could help to bring house price inflation under control.

The report for March from RICS showed that whilst the number of people registering to purchase property remained flat 21 percent more surveyors reports a rise in properties being put up for sale as opposed to a fall. This comes after a year of lack of supply to meet demand caused property prices to be pushed up.

A spokesperson from RICS said: ‘With the election approaching and uncertainty growing over the political direction of the country, many vendors now appear eager to put their properties on the market. For the time being, many of the key housing market indicators are still positive or stable. However, with stocks increasing and sales decreasing we may see some modest price falls in some regions although London, the South East and Scotland are continuing to perform well.’