International investors are tipped to increase their interest in London property after the Conservative Party’s unexpected general election victory boosted confidence in the housing market and subdued fears about a mansion tax.
The Labour Party said it would introduce a tax on properties worth more than £2m if it were to form a government.
Estate agents say the removal of this threat could see the price of homes at the upper end of the London market increase by 20% in the next year. Less than 24 hours after the polls closed, they are already reporting an increase in enquiries from international investors who had put off purchasing houses until the election result was known.
The result is set to boost overseas confidence in the UK and push prices up over the next five years – a bullish outcome for the London property market.
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