Queen’s speech in relation to property

Robert Bartlett, Chesterton Humberts CEO, comments:

“As expected, there was little in the Queen’s speech that will assist the property market along the bumpy road to recovery.   We expect rising unemployment and weak wage growth to keep a lid on any meaningful house price growth up to 2011 and further public sector cutbacks means growth will be further curtailed in 2011.”

“It is a shame that no initiatives around stamp duty where announced to help encourage the fluidity of the market, although of course the expected increase in Bank lending in 2010 should aid liquidity and hence we do expect a greater volume of transactions in 2011. Greater supply of property will help keep house prices from becoming over heated once again.”

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