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US Election: Donald Trump win could boost London residential property market


11-10-2016

 

Property expects on Wednesday predicted Donald Trump’s victory in the US election, could lead to an uptick in demand for London residential buildings.

Nine Elms property developers could see increased demand for flats, as “disillusioned” Americans seek a relocation to London in the wake of Donald Trump’s victory, according to Jefferies analyst Anthony Codling.

He said: “Potential winners are Berkeley Group and London centric estate agents.”

Nick Davies, head of residential development at Stirling Ackroyd said: “The recent fall in the value of the pound against the dollar means there are great deals available in the London market for buyers from across the Atlantic. While the capital’s house prices have risen 13% year-on-year for domestic buyers, those using the dollar will find homes in London are almost 10% cheaper than a year ago.”

Donald Trump's victory speech after winning US election

Meanwhile Peter Wetherell, the boss of Mayfair estate agent Wetherell, noted that Trump “as president brings to the White House a property industry person for the first time in history”.

Wetherell added: “We have the prospect of game changing USA and UK new trade deals and also a surge in property investment from the USA into London." 

Samuel Blake, residential partner at Montagu Evans, also commented: “We consider that London could benefit from Trump’s policies.  However, we believe the impact is likely to come, not from fleeing Americans, but from wealthy people who would have considered a move to New York City, in particular from the Middle East, Europe and China.”

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