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Seminar: Outsourcing and Contract Procurement
Tue 28 Feb 2012
Minerva House, 5 Montague Close, London, SE1 9BB
Hung parliament 'creates uncertainty in housing sector'
Fri 07 May 2010
The outcome of the general election could slow down any recovery in the residential housing market, a real estate firm has warned.
According to Jones Lang LaSalle, issues such as cutting council housing waiting lists and supporting the private rented sector are major issues that need to be addressed by the government.
However, no party won an outright majority at the general election, which means the UK now has its first hung parliament in more than 30 years.
Jones Lang LaSalle believes the resulting uncertainty could lead to house prices declining in some areas over the short term and transaction volumes also going down.
James Thomas, head of residential investment and development at the firm, said transparency and detail on housing policy is "crucial".
He warned that if certain issues are not clarified, buyers and sellers may put off engaging in any transactions.
This comes after the Chartered Institute of Housing warned ahead of the election that the arrival of a new UK government could create uncertainty in the housing sector.
