Hung parliament 'worst outcome' for property market
A hung parliament resulting from the forthcoming general election will be the worst eventuality for the UK property market, according an independent Estate Agent.
Ed Mead, a director of Douglas & Gordon, said that people in the industry "just hate uncertainty", something which could arise if no party achieves a majority after the May 6th poll.
He added that such political gridlock "is bound to create instability" in people's minds when it comes to buying a property as the market continues to react tentatively.
Ahead of the first televised debate featuring the party leaders, Labour is within six points of the Conservatives with the Liberal Democrats on 17 per cent.
Earlier this year, the Tory lead was in double digits with an overall Commons majority highly likely.
This analysis, combined with the polls bringing Labour closer to the Conservatives and making a hung parliament a realistic possibility, may encourage people to look for property to rent in the London borough of Havering, or elsewhere in the capital.
Published 13th April, 2010
© 2010 Estates IT Limited
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More people may look for property to rent in the London borough of Havering, or elsewhere in the capital, after one independent estate agent said a hung parliament would be the worst outcome for an already struggling property market.