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Are property prices set to soar?

Dominic Agace, CEO of Winkworth, talks exclusively about the impact of the general election, property prices and buying in the country   It's barely a week since the General Election, but the clouds have passed, and the sun is once more starting to peep through onto the property market. "There is no doubt that just before the election, things did slightly grind to a halt," says Dominic Agace, CEO of Winkworth. "Now, though, people are happy to get on with it, and while it's not all champagne corks popping as yet, offers are coming in. "There were even scores of people putting in bids on the morning after the election." The big question now, of course, is, with the Tories returned to power, are property prices set to soar' "They went down five per cent before the election, and while it's still too early to say, I reckon that by the end of the year, we shall be back up in positive territory," explains Agace. "Everyone is that bit more confident, but at the same time, I expect steady, rather than dramatic price rises. "To be honest, people are happy to be dealing with the fundamentals of buying and selling, rather than having to deal with any additional tax burdens." And it's not just in London that all the transactions are taking place. Now that the Conservatives have got in for another term in Parliament, homeowners in the capital are starting to look to second homes in the country. "Before the election, there was definitely a fear in the country house market of an increase in mansion tax affecting people's willingness to buy. Now, though, a lot of people are feeling that their jobs are more secure, and consequently they are looking to buy country houses in Devon and Cornwall." And it's not just to the West Country that people are turning, either, but Spain as well. Before the election, everything was very centred on London. There was a lot of uncertainty around, as people felt they might lose out if they sold their place in London. "Now, though, they are breathing a sigh of relief, and starting to contemplate the idea of downsizing in London and buying a house in the country. All of a sudden, the second home market is starting to look a lot more interesting. Not that homeowners are wanting to move that far out of the capital when it comes to their main residence. "A rough rule of thumb, is that people don't want a train journey into London of more than one hour," adds Agace. "There's no fixed point beyond which people don't want to live, but if you had to pick a place, I'd say people don't want to move much further out than Weybridge." In terms of a property weather forecast, then, the outlook is favourable to both buyers and sellers. Predictions of increased stamp duty and mansion tax have proved to be unfounded, and for the next five years, at least, the dark clouds have disappeared.

Dominic Agace, CEO of Winkworth, talks exclusively about the impact of the general election, property prices and buying in the country

  It's barely a week since the General Election, but the clouds have passed, and the sun is once more starting to peep through onto the property market.

"There is no doubt that just before the election, things did slightly grind to a halt," says Dominic Agace, CEO of Winkworth. "Now, though, people are happy to get on with it, and while it's not all champagne corks popping as yet, offers are coming in.

"There were even scores of people putting in bids on the morning after the election."

The big question now, of course, is, with the Tories returned to power, are property prices set to soar'

"They went down five per cent before the election, and while it's still too early to say, I reckon that by the end of the year, we shall be back up in positive territory," explains Agace.

"Everyone is that bit more confident, but at the same time, I expect steady, rather than dramatic price rises.

"To be honest, people are happy to be dealing with the fundamentals of buying and selling, rather than having to deal with any additional tax burdens."

And it's not just in London that all the transactions are taking place. Now that the Conservatives have got in for another term in Parliament, homeowners in the capital are starting to look to second homes in the country.

"Before the election, there was definitely a fear in the country house market of an increase in mansion tax affecting people's willingness to buy. Now, though, a lot of people are feeling that their jobs are more secure, and consequently they are looking to buy country houses in Devon and Cornwall."

And it's not just to the West Country that people are turning, either, but Spain as well. Before the election, everything was very centred on London. There was a lot of uncertainty around, as people felt they might lose out if they sold their place in London.

"Now, though, they are breathing a sigh of relief, and starting to contemplate the idea of downsizing in London and buying a house in the country. All of a sudden, the second home market is starting to look a lot more interesting.

Not that homeowners are wanting to move that far out of the capital when it comes to their main residence.

"A rough rule of thumb, is that people don't want a train journey into London of more than one hour," adds Agace. "There's no fixed point beyond which people don't want to live, but if you had to pick a place, I'd say people don't want to move much further out than Weybridge."

In terms of a property weather forecast, then, the outlook is favourable to both buyers and sellers. Predictions of increased stamp duty and mansion tax have proved to be unfounded, and for the next five years, at least, the dark clouds have disappeared.

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