Election caution weighs on homes

Demand for homes has slumped to the lowest level in a year, say agents. The National Association of Estate Agents blamed uncertainty over next week's general election for the drop in would-be buyers. Just 343 house hunters registered with the average estate agency branch in March, down from 366 in February and a peak of 406 recorded last September. Nearly two thirds of estate agents reckon buyers are holding off to see what happens on May 7. Mark Hayward, NAEA managing director, said: "The outcome will impact first, second, third and last time buyers." Elsewhere, the Times’ Bricks and Mortar lays out what the outcome of the election could mean for your home. Savills’ Lucien Cook says the worst outcome would be if a long time is taken to form a coalition as it would lead to further uncertainty in the market.