Industry concerned modest increase in Labour councillors could disrupt development and planning decisions.
Labour failed to win control of the big London councils it was targeting, such as Westminster, Wandsworth, Kensington & Chelsea and Barnet, meaning the Tories kept hold of the crown jewels.
“Many UK property professionals will breathe easier now as the likelihood of an early election and a new government has decreased, and along with it any possible new regulations aimed at private wealth, especially property,” says Walter Boettcher, chief economist at Colliers International, adding that the results offer “a morsel of stability in the short term as the uncertain details of Brexit are fleshed out”.
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