After decisive British election, estate agents draw up listing plans
After a general election that removed much uncertainty from the nation's housing market, backers look to list their companies
The investors behind a handful of British estate agents are looking to take their companies public, encouraged by the strong performance of European property stocks and a national election that removed much of the uncertainty from the housing market.
Purplebricks and easyProperty are seeking to harness demand from funds with limited tools for tapping into a thriving residential property market.
With equity markets strong and house prices still on the up, these new kids on the block offer a less risky way into Britain's £5.75 trillion (HK$68.1 trillion) residential property market than speculating on bricks and mortar, fund managers said.
Next year, about 1.3 million houses are expected to change hands in Britain, up from 1.18 million last year, according to property services company JLL.
The Conservative Party's unexpectedly decisive victory in the May 7 national election has added impetus to a market that was already forecast to improve on the back of low mortgage rates and economic growth.
The opposition Labour Party, neck-and-neck with the Conservatives in pre-election polls, had pledged measures which could have cooled demand, including an annual tax on high-value properties.