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The effect of a hung-parliament on the property market

7th May 2010 | back to article listings BACK    print this article PRINT

Stuart Law, Chief Executive of Assetz, comments on the effects of the hung parliament on the property market:

“The much-touted hung parliament has not had the immediate effect on the money markets that was originally anticipated. Rather than witnessing a fall in the rate of the pound against the euro we have seen it revised upwards this morning as a result of continued turbulence on the continent. If the strength of the pound continues to grow against the euro it would signal that now is an excellent time to buy property abroad. Those people who already own property in Europe - renting it out in sterling and paying their mortgage and bills in euros – will also be able to cash-in on the euro’s weakened state. As the influx of foreign money into the UK market slows, we would expect to see the growth rate of prime London becomes more measured – possibly even falling in the short term.”

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/5105.html. Alternatively, please see our full press release archive.

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