What Price Party Politics on UK Property Prices?
It seems some years ago now that the country had a government in charge with clear values. A party that did not change it’s policies or position on a day to day basis, one that took democracy seriously, one that respected the values of the country and one who had a leader, the Prime Minister, that held the position with pride and put the country’s interests first.
Currently we have what I would say is party politics, a situation that Spitting Image would find it hard to keep up with, a Prime Minister who is regularly challenged for her role because she is not fit for the cause ie latest being from Boris Johnson – A cabinet that is split with strong debates not only in Parliament, but across social media for everyone to see. There seems to be a growing trend of relatively new parties emerging and growing, all of course branded as far right by media outlets, that are trying to delve in to the cries of frustration of the public and addressing current day concerns with obvious topics such as Brexit, immigration, crime, BBC TV licence and more leading their manifestos.
We also are seeing famous faces, mostly from television / cinema screens, jumping in to politics with the likes of the BBC’s golden boy Gary Lineker looking to rebel democracy by leading the peoples vote movement along with many other rants especially on social media such as those by Lindsay Lohan, Lily Allen, J.K Rowling and others who happily accept they’ll lose admirers from those opposite to their views.
So, with us not knowing if the Prime Minister will still be in 10 Downing Street tomorrow or break dancing in South Africa, if Tommy Robinson will be joining UKIP, if Jeremy Corbyn will received another damning headline, if Brexit will happen or be swept under the carpet along with government housing changes to mostly the rental sector such as tax rate of 66% for landlords – What effect will this all have on UK property prices?
It seems to be a slight stand still with regards to UK property prices. Some media outlets are telling it how it is, such as prices have slowed down and in some places are declining, other outlets giving out positive news (we all know how stats can be played with in order to give us the headlines we require). Yes demand is still high, especially with continued immigration, though demand is high on affordable housing which we are not seeing enough of – The country seems currently, on the surface, to be relatively stable economically such as low unemployment figures and of course we still have very low interest rates which all should add up to a robust property market.
A total collapse? Unlikely.
A price correction? Most likely.
A lull in activity and price growth? Quite possibly.
A surge in values and activity? Well, that will all depend on what the government can chuck out at us, though to be honest there is not much left in the pot that can be camouflaged as positive news.