Election result puts property sellers in bullish mood

Written on 1 June 2015 by Alistair Boscawen in Property News

The average asking price of homes for sale in London has jumped 17% since the general election.

The asking price for London homes put up for sale rise 17% following general election.
The asking price for London homes put up for sale rise 17% following general election.

This rise has been triggered by owners of multimillion pound homes putting them on the market after fears of a mansion tax were quashed by the Conservative Party’s election victory.

Average asking prices has also been pushed higher by the launch of several luxury developments and the fact that it’s peak season for selling property – the end of spring/beginning of summer is a popular period to list property.

The data also demonstrates that there is substantial activity in the mainstream market, with the number of homes with an asking price of up to £500,000 being listed increasing 66% between 9 April and 14 May to 4,028.

The election result means that it’s a positive time to put your house on the market, there’s a feeling of optimism and the punitive taxes that the Labour Party said they’d introduce haven’t materialised. The pre-election uncertainty has been diminished and things are on the up for the London market.

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Alistair Boscawen

Alistair has 32 years’ experience as an estate agent, starting in the country house department of one of London’s main international agencies before moving to the Knightsbridge house department of the same agency and learning the difference in values between freehold, long lease and short lease houses in Knightsbridge, Belgravia, Chelsea and Mayfair.

All articles by Alistair Boscawen


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