Hung parliament 'will create instability in the housing market'

Posted: 12 Apr 2010 11:38:01 GMT

A hung parliament would be the worst possible option for the housing market, it has been claimed.

Ed Mead, director at Douglas & Gordon, states that the uncertainty a hung parliament would create would cause havoc in the sector.

"You would have to say it is the worst option. People just hate uncertainty and a hung parliament is the very definition of uncertainty, so from that point of view it is bound to create instability in people's minds," he says.

Mr Mead adds that sellers are likely to wait until after the election and weigh up their options then, however, with levels of demand quite high at the moment, savvy homeowners should put their property on the market now and take advantage of this.

Yolande Barnes, head of residential research at Savills, recently echoed Mr Mead's claims, stating that it would lead to another six months of uncertainty until another election is called.



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