Saturday, July 2, 2022
In BriefHouse prices set to rise after Tory win, says estate agent

House prices set to rise after Tory win, says estate agent

AN estate agent has declared that the Conservative’s success in the General Election will boost the UK’s residential property market.

Getting on the property ladder could become even harder after the Conservative’s victory, with estate agent Savills saying house prices are set to rise



A spokeswoman for Savills’ regional branch in Edinburgh said prices in London and the South East were expected to rise and this could affect prices in Scotland.


She said: “ Prime values in London and the South East are expected to rise as the uncertainty, which had surrounded the introduction of a Mansion Tax, dissipates.

“Historically, improvements in the Capital’s housing market have rippled out to the UK regions, including Scotland.

“In addition, the new Land and Buildings Transaction Tax (LBTT), which has replaced Stamp Duty in Scotland, and which favours lower value homes, is likely to fuel activity market further up the property ladder.


“This will be particularly felt in Scotland’s regional locations”.




She added: “With an enormous 200% gap between Scottish values and those in London, Scotland continues to offer excellent value with opportunities for buyers to take advantage of relative affordability.”

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