The housing market has started 2015 brightly but activity and price growth may slow due to pre-election jitters.
Property portal Rightmove said owners may find it more difficult to sell in 2015 as political uncertainty grows in the weeks before May.
Transactions will also be hit by a shortage of attractive property, as applicants who have passed mortgage lenders' more selective criteria will be more fussy about the homes they buy.
Despite these concerns, Rightmove reported that the year has started brightly, with average asking prices up £3,798 in January, a rise of 1.4%.
Visits to the Rightmove website were up over 10% in the first 13 days of January versus last year, with an all-time record number on Sunday 11 January.
Miles Shipmove, housing market analyst at Rightmove, said this early bullish indicator may be misleading.
"Early 2015 statistics currently point in the right direction for homemovers, with the Chancellor's early stamp duty Christmas present perhaps being the spur for people making New Year resolutions to get on with moving.
"However, we are only a few days into the year and it remains to be seen whether this initial flurry is sustained."
Election jitters could hit the number of property transactions rather than lower prices, resulting in a moderate reduction from the high volumes seen in 2014
Stock has fallen by 10% compared to the same period in 2014, creating upwards price pressure in popular areas.
Shipside said: "The popular properties that most people want will remain highly prized and priced.
"Buyers deemed mortgage-worthy will value their hard-won purchase pots and want to spend them wisely.
"That might mean stretching themselves to afford a property that ticks all the boxes, but wanting a heavy discount on one that falls short."
Jeremy Duncombe, director, Legal & General Mortgage Club, said the Rightmove figures show that demand for housing is still outstripping supply, making it harder for first-time buyers to enter the market.
"In the run-up to the election, the need to build more homes should be at the top of the political agenda."
Comments