Freephone 0800 822 3449

How will the election affect your house price?

Wednesday 5th May 2010

Hear that sound? It’s Greenwich Estate Agents gnawing at their finger nails. As the polls narrow in the most closely fought General Election campaign in a generation, the world economic markets seems to have made up their collective minds as to the outcome of the next general election – a hung parliament – and what they feel about it – uncertainty.

What has this to do with your house prices? And why are Estate Agents in Greenwich chewing through their digits? Simple - in the past uncertainty has meant stagnation.

There is however, no need for Estate Agents in South East London to fear. Look at the facts - property prices are based on supply and demand and property in South East London, by and large, is still in short supply.

With every party pledging cuts, it’s a sure bet that cuts will be made. As well as all the much-publicised cuts to big departments – it also means cuts to Government backed house-building programmes. This keeps the supply of houses down, and thus the demand goes up – along, so the theory goes, with house prices. While we may never get back to prices seen pre-2007, a good property in a good location will always be in demand.

<< back to blog