Response to 2015 General Election Results
Fri 08 May 2015
Peter Rollings, CEO of Marsh & Parsons, comments:
The most positive aspect of a conclusive election result is that the uncertainty that has surrounded the economy and the property market can now be banished and the recovery can continue. A hung parliament may have prolonged this purgatory, so a majority vote means that buyers, sellers and the property industry as a whole can again plan for the future with confidence.
The top-end market will be breathing a huge sigh of relief that 2m+ properties wont be penalised by a mansion tax, a levy that would have stifled activity in the capital and across the South East. Any such tax could also have had implications on lower rungs of the property ladder too, so it is not just wealthier homeowners who should be counting their blessings. The post-election feel-good factor could well kick in immediately and 2015 may prove to be a reversed version of 2014 in starting slowly and finishing strongly.