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Property prices up because of the Prime Minister effect? Wow.

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Let’s understand a bit before starting this article. Boris Johnson is the current UK Prime Minister (PM). He has been the PM since 24 July 2019. That’s about 6 months now. Halifax is a division of Bank of Scotland. Bank of Scotland is part of Llyods Banking Group. Llyods banking group is meanwhile a top 23 largest banking group in the world with over US$1 trillion in assets. As a comparison, the largest bank in Singapore, DBS Bank has assets of US$372 billion. (as per wiki) Now, let’s start looking at one latest news about how a new Prime Minister’s actions are also helping to push up property prices. WOW…

Article in mansionglobal.com Halifax’s report says that the U.K. property prices are continuing to climb amid the so-called “Boris Bounce.” Prices in January were 4.1% higher than they were at the same time in 2019, the highest level of annual growth since October 2017, and the second consecutive month of price growth of at least 4%, according to the bank and mortgage provider.

The reason for this seems to be the catalyst from December’s general election and the U.K.’s official departure from the EU on Jan. 31. This effect of uncertainty-busting policitical double whammy are being dubbed the Boris Bounce, after the Prime Minister Boris Johnson. Marc von Grundherr, director of estate agencyBenham and Reeves said, “It would seem that the Boris Bounce in market activity that followed December’s election has blown market expectations out of the water where the rate of annual house price growth is concerned and has catapulted a once weary market back to previous form.” Please do read the full article with even more numbers from the Article in mansionglobal.com

I know what you are thinking. What about Malaysia then? I personally do not think a Prime Minister should be a major criteria of the property price yeah. Better rely on fundamental numbers instead. The image below shows the house price index since 2018.

The House Price Index basically reflects the current sentiment in the market; unsold unit numbers, uncertainties with the world economies as well as perhaps the ‘Trump’ effects more than any other world leaders. Happy understanding yeah.

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Next suggested article: Property? It’s usually the most significant, even for ministers

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