General Election Impact
The Conservative Party’s election victory has brought confidence into UK property as a surge of investors rush in to the market.
Since the election result, estate agents have been reporting calls from investors at the top end of the property market, as the Tories shock election win lifted fears of a mansion tax on £2m-plus homes.
Uncertainty over tax and incentives for investors had caused a slowdown in activity since the start of the year, and the prospect of a mansion tax on homes costing £2m or more if Labour got into power had stalled sales at the top end of the market.
Agents believe the Conservative victory brought certainty over economic policy, which would have an impact on all parts of the market.
Many UK agents are of the view that residential assets above £2m to rally by up to 20%, and that over the next five years capital values in prime London could double.
