Bishop elected to move house (5)
I believe the answer is:
bingo
'house' is the definition.
(both are used to announce you have won in bingo)
'bishop elected to move' is the wordplay.
'bishop' becomes 'B' (chess abbreviation).
'elected' becomes 'in' (in government).
'to move' becomes 'go' (to go is to move).
'b'+'in'+'go'='BINGO'
(Other definitions for bingo that I've seen before include "Cry on discovering something" , "I've completed my card!" , "Housey-housey" , "Number-calling game" , "Voila!" .)