Post-election fizz

Well, we got the right result in most people’s eyes for the Knightsbridge and Belgravia property market. No more talk of a Mansion Tax, no Rent Controls and no 20% overnight drop in values that was predicted with a Lab/Lib/SNP pact.

My colleagues and competitors have been bullish in their predictions as to what effect a Tory majority will have on the sales market in Knightsbridge, Belgravia and the surrounding areas; some of them going as far as predicting 20% rises in the £2m+ market over the next 12 months and prices doubling in 5 years. I would certainly go along with an improvement on pre-election predictions of values rising only a couple of percentage points; however, I’m not sure I could go as far as 20%! Let’s see how it plays out.

We had a much busier day on Friday than we were perhaps predicting: clients calling in and buyers registering. The stagnation that 3 months of election talk had caused in the Knightsbridge sales and lettings market had at last lifted and things were moving again. Whilst there is still work to do for the Government in the London housing market: creating more homes and redrawing the inequitable council tax bands; it seems that we can now go back to talking about something other than the doom and gloom that might have been.