Post Election Perspective on Central London Property
I have never been so pleased that a party has ended early.
One of our members held a bash at his home in Belgravia for the election and put on a fantastic spread of food and drink.
A few people were nervous but the champagne and vodka and tonics were slipping down well.
Then the exit poll was announced- "Conservative Landslide Win!"
"What an anticlimax", said one guest. "This was supposed to be close".
There is an old quote, 'There is nothing to fear but fear itself' and this election has been a classic example.
One definition of FEAR is "Future Events Appearing Real"- and as humans are genetically engineered to fear loss more than we lust after gain, we have a bias towards negativity.
So, although a Corbyn victory was an incredibly low probability event, it was given far too much weight.
Anyway, the good news is Corbyn is history and so is Dianne Abbott. Can you imagine her as home secretary?
By appointing her as Shadow Home Secretary, Corbyn was effectively saying she was the fourth most competent person in the Labour Party: Yikes!!
What does this mean for London property?
Clearly it is good news. I expect transaction numbers to increase and prices should strengthen too.
However, the naysayers will still be out in force and I am sure the media will find new scare stories to focus on; Brexit being one.
But just as this election has shown that the worst case scenarios rarely happen, Brexit will also prove to be far less poisonous than the mainstream media would have us believe.
Last night the guests were from Greece, Italy, Poland, Spain and England. London is a cosmopolitan city... and a fantastic city.
It will continue to be for decades to come.
I will be in Hong Kong next week visiting clients, so I would like to wish you a Merry Christmas and I hope you have a fantastic end to the year.
Jeremy McGivernMercury Homesearch Trusted advisers to the world’s most successful families and business people +44 (0) 800 389 4280 www.mercuryhomesearch.com