MANAGING PARTNER AT BLACK BRICK
Q.Dear Camilla, what is the UK market likely to do after the election and what advice would you give to buyers?
A.A hung parliament is bound to weaken sterling further, which could spell price rises for the London property market, where approximately 60 per cent of transactions over £1m are made by foreign buyers. Indeed, the weak pound has been a driving force behind price rises in central London.
But a Conservative majority will comfort domestic high earners. House prices are likely to be boosted by an outright Conservative win because it will settle people’s nerves and give more clarity on future policies that could affect their lives.
There is one piece of advice that anybody thinking of buying property as an investment right now should remember – timing is key. For foreign buyers, I would advise them to watch closely what happens to sterling.
For owner-occupiers, buying well is as much about finding the right property as it is about price and this also means taking a long-term view.
Camilla Dell is the managing partner at search and acquisition consultancy Black Brick. www.black-brick.com.