The announcement came the same day as the announcement from the ONS that inflation had fallen closer to the BoE target of 2%.

Meanwhile, Labour detailed its ‘first steps’, which included delivering economic stability and cutting NHS waiting times, the Conservatives have also listed their priorities which include halving inflation and reducing debt.

Industry professionals have given their say on the announcement.

John Phillips, CEO of Spicerhaart and Just Mortgage:

 “While the prime minister and his government are clearly using the positive news on inflation as their moment to move, it still feels somewhat like turkeys voting for Christmas — especially if polling figures and general sentiment is anything to go by.

“Nevertheless, now we finally have a date, it will be interesting to see how the main parties ramp up their campaigns — and how housing and mortgages will fit into their plans — this is especially true for Labour and Kier Starmer who set out their ‘first six steps’, which did not include a plan for housing.

“Both play a critical role in the wider economy and remain carefully balanced amid improving consumer confidence.

“While market conditions have improved, it’s still far from plain sailing for many borrowers.

“We certainly need to see some concrete plans on how they plan to answer the clear affordability challenges that remain in the market, as well as the persistent undersupply of housing.

“With real pressures on affordability, it would be fantastic to see a return of scheme such as help to buy or something similar that includes second-hand homes.

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“Given that it is proving to be the main way buyers are getting onto the property ladder in the current climate, it would be great to see more support given to the likes of Shared Ownership and other low deposit schemes.”

Giles Mackay, founder of Outra:

“An election is an opportunity for housing policy to become practical, logical, and fair. The next election should be a housing election. 

 “Generations of brits are hammered by issues of affordability, unable to gain a footing on the housing ladder.

"There is a real opportunity here for policymakers to prioritise the delivery of homes, building them in the areas where they are genuinely needed, supply shouldn’t be a ‘tickbox’ or number to be met, it should be thought through and data-led.

“This is an issue too important for electoral gimmickry, both sides need to tune in.”

Maria Harris, chair of the Open Property Data Association (OPDA):

“The prime minister’s decision to call a General Election comes fast on the heels of a sharp fall in inflation and welcome improvements to the economy.

“After challenging local election results, this positive economic news will be a key factor in firing the campaign starting gun — It will be interesting to see whether there is more good cheer for voters in terms of interest rate cuts.

Whichever party forms the next government, we continue to deal with the challenges of a broken housing market — new ministers will need to tackle these urgently.

“Top of the list should be digitising our property data and resolving the notoriously sluggish homebuying process.

The OPDA recently gave evidence to The Levelling Up, Housing and Communities select committee’s ‘Improving the home buying and selling process’ inquiry, calling for the entire home buying and selling process to be digitised within three years.

“We appreciate the issues with supply and quality of housing but sharing digital property information across the housing market is a vital first step towards improving customer confidence in the homebuying and moving process and will slash contract exchange times significantly contributing millions to GDP.”