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Mixed signals in the UK property market

Only a few days ago it appeared that buyers in the UK were more than happy to acquire property prior to the election but now it seems that some buyers have decided against stepping into the unknown. Whether it is the potential for a hung parliament or just the general uncertainty regarding the outcome for next election is debatable but signals from the property market are mixed to say the least.

It is proving more and more difficult to forecast the short-term direction of the UK property market and indeed the UK banking industry has yet to provide much-needed additional liquidity which will assist first-time buyers in joining the property market in the future. Again, we could be seeing UK banks holding back on increasing liquidity in the short term until confirmation of the next government, with the prospect of a hung parliament starting to concern more and more economists in the UK.

It is unclear how a potential Liberal Democrat/Labour Party coalition or a Liberal Democrat/Conservative party coalition would operate and indeed what policies would be taken from each party. However, there is no doubt that Gordon Brown is making a major play for a partnership with the Liberal Democrats in the knowledge that he is unlikely, at least at the moment, to secure a full majority in the Houses of Parliament.

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