Could a “Yes” vote in the Scottish referendum further boost London property prices?

17th September 2014

Could a “Yes” vote in the Scottish referendum further boost London property prices?

If the Scottish people vote for independence on the 18th of September, property prices could boom, Rightmove has said in its monthly house price survey.

In the event of a “Yes” vote and if financial institutions and wealthy individuals decide to move to London, the influx may push up prices just as foreign investors have helped to trigger a surge in prime parts of London.
Big banks such as Royal Bank of Scotland and Lloyds have said they will move their legal bases to England if Scotland votes for independence. The latest polls show the referendum is currently too close to call – despite the “Yes” vote having sparked fear into the heart of the Westminster establishment when it took the lead the other week.

Politics is certainly getting interesting. With enormous constitutional questions set to be thrown up in the event of both a Yes and a No vote, the outcome will be a major event in British history. We’ll all have to sit back and see as what the knock-on effects will be – right now it’s anyone’s guess!

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Bloomberg