If the effect of the election is telling us anything in the property world, perhaps it’s a reminder that property is a long term asset, and anyone owning property as an investment should ideally have it as part of a broader portfolio.
Whilst the attacks on tax on property are coming from both sides, be it increased SDLT and reduced interest tax relief from the conservatives or the rumoured land tax from labour, there’s still no escaping that the UK is an island with a growing population and rising demand. Over the long term therefore, property will always be a safe, if not spectacular investment.
The concept of a “hard Brexit”, whatever that means, has now been considerably watered down, so there must be some optimism that a trade deal with Europe will be struck and ideally keeping the EU financial “passport”. What that means is that hundreds of thousands of jobs in the city will be safe; the demand for high end property will remain intact and there would be no destabilisation of the London property market by a mass exodus of high earners to work in overseas offices.