In the aftermath of the election of a majority Conservative government in the UK, a greater degree of certainty in the property market was anticipated and caused some sellers to expect a short-term spike in prices, as high as 10%, especially at the top end; this however has failed to materialise. Vendors have eventually accepted the fact that buyers of super-prime properties are more price-sensitive and more quality driven.
A series of changes in the clamour around property taxes have cast shadow over much of the hype on price expectations over the first six months of 2015. The succession of tax changes in recent years has made it increasingly difficult to argue that high-value residential property is under-taxed.
