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06/01/2010
Prime property supply 'set to rise' |
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The supply of prime properties is set to increase after the general election this year, it has been predicted.
Nigel Ellis, the senior partner at estate agency Prickett & Ellis, said that the upcoming poll will have an effect on the market by lowering the level of activity in the sector.
He stated: "Whenever we have an election, everyone is too busy watching it or worrying about the outcome."
After the poll, there will be higher interest rates and other changes that will see many more properties come onto the market, Mr Ellis forecast.
In the meantime, people are tending to be "happy where they are", he commented.
A surge in prime property buying could see more people seeking the services of Westminster lawyers to engage with this segment in central London.
The forthcoming election has to be held by no later than June 6th, although many believe prime minister Gordon Brown will call it sooner than that.
At present there is uncertainty over the outcome, with some polls suggesting a hung parliament is a serious possibility.
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