Labour ‘no threat’ to property market says posh property firm
Research by London firm Middleton Advisors shows a government led by Sir Keir Starmer could be good for property prices.
The property markets have nothing to fear from Labour winning the next General Election, a leading prime property firm has claimed.
Analysis by prime specialists Middleton Advisors considers the potential impact of the election, which is expected to take place next year.
The company says its examination of 50 years of housing data and current Labour policy, gives cause for optimism.
Best record
In fact of the last 10 prime ministers, since 1976, Labour’s Tony Blair has the best record on house prices. During his decade in power, the average price increase was 9% per year.
When adjusted for RPI inflation, real house prices have fallen by 7.5% since the coalition government took power in 2010, and by 6% since the last general election.
Four of the five regimes which presided over falling real house prices were Conservative, and Rishi Sunak has the worst annual record albeit after just under a year in office.
Bad news
This could be bad news for the Tories, as falling real house prices have been a feature in two out of three government changes since 1976.
Whereas there has been no change in the governing political party during a period of rising real house prices, since 1979.
The likelihood of an incoming Labour government no longer feels like a massive threat”.
Mark Parkinson, MD at Middleton Advisors, says: “Our research suggests cause for optimism ahead of next year’s general election.
“The likelihood of an incoming Labour government no longer feels like a massive threat to prime property markets in London and the country,” he says.
“We are heartened by Labour’s recent policy announcements alongside the historical data showing the real house price growth delivered by two of the past three Labour governments.”
Labour U-turns on raising taxes for property owners
What ludicrous “research”! Judging from this article, all this lot have done is compare house prices and political parties, completely ignoring changes to the legislative framework, the general economic context, increases or decreases in people’s real incomes, the timing of recessions and business cycles, etc. Callaghan looks good because the country was recovering from a very low base after the 1973-74 oil shock and 70% crash in house prices and massive inflation. Thatcher had the massive 1980 oil shock and recession to deal with; Brown had the GFC in 2007-08. Blair had no recession at all. Truss and Sunak shouldn’t be included as their timeframes are so tiny.
Granted, the current Labour lightweights aren’t the “property is theft” Corbynistas, but their carefully minimalist policy statements so far seem nothing but the same quango-heavy, high tax, low productivity “managed decline” as the Conservatives are offering.
Our politicians are of the poorest calibre I have known in my life time and Im in my late 50s.
We have the biggest government overreach and tax burden since the war.
Labour and Tory’s are two cheeks of the same backside. There is no political choice. They are the same.
To be brutally honest, democracy is an illusion. We are run by the same left wing civil servant blob, so it doesn’t really matter who gets elected.
They are clueless. If I was under 40 Id emigrate.