Property developer British Land has indicated that a Conservative election victory will revive the top end of the housing market after admitting that pre-poll jitters hit the sale of some of its most expensive homes.
The company behind the Cheesegrater building in the City of London and Meadowhall shopping centre in Sheffield said that while the mainstream market was resilient in the runup to the polls, demand at the upper end waned as potential buyers weighed up the threat of a mansion tax on expensive properties.
“In residential, the mainstream market remained relatively robust but the prime central London market softened, reflecting uncertainty ahead of an election and the risk of a mansion tax on properties above £2m,” British Land said.
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