On Wednesday 9th November, news emerged that Donald Trump beat Hillary Clinton to become the 45th US President. Next week Donald Trump will become US President.
While there seems to be a fair amount of negativity over his shock victory, many experts and analysts suggest that the UK residential property market, particularly London, may get a boost.
The common prediction seems to be that we are likely to see an increase in demand from the US in Prime Central London (PCL) property. Is this from American’s wanting to flee following the result or those intending to take advantage of the recent fall in the value of the pound against the dollar? There are currently great deals to be had in the London market for American buyers and investors.
It has also been reported that demand will increase from wealthy overseas buyers, in particular from the Middle East, who will consider the US market too risky and invest in the PCL market instead.
Tony Addinall, Chairman, comments: “Brexit was only a few months ago, coupled with the US Election and it looks like there could be a period of further uncertainty. This is never good for the property market, but I believe Trump’s surprise victory to have a short lived effect.
The PCL market has remained an investment safe haven for many years and this won’t change as a result. Time will tell what real impact this Election will have on the UK property market.”