Black's Property Blog

Adrian Black delivers critical property market insights and the influences, behaviour and money driving them.

All eyes on the election

by Adrian Black, Thursday 30 April 2015

Never mind the opinion polls - odds at the bookies today indicate that Ed Miliband is about twice as likely than David Cameron to be the next Prime Minister, with the odds also indicating that the Conservatives are 10 times more likely to win the most seats of any party.

The west prime central London property owners are anxiously waiting.  If a Miliband stewardship leads to mansion tax and increased taxes for non-doms, then, short of any other significantly material factors, the amount of property in the market must increase and affordability must decrease. This will lead to further falls in prices of all but the very best in category properties.

Also, if political horse trading continues for some time after the election then the current state of uncertainty will continue and potential property buyers will be less committed and I expect fewer properties will be sold and bought.

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