What does Barack Obama's victory mean for the US and UK housing markets? Realtors - American estate agents - gave their views to Peter Bolton King, chief executive of the National Association of Estate Agents in the UK, at the National Association of Realtors annual conference in Orlando, Florida.

“Although there is a lot of excitement, realtors are just relieved it is all over, ” Bolton King says. “They think that just having the election behind them will have an effect on the real estate market. Realtors in Washington expect prices to rise from next year; one realtor told me that there is typically an upturn in Washington real estate when a new administration arrives in the White House in January. Realtors believe that if the economy starts to stabilise, buyers will jump back in.”

And on this side of the pond? Rob Bruce, research manager at Hamptons International, predicts that the UK housing market will also benefit. “Should Barack Obama follow through on his pledges for change for the US housing market, this should have a ripple effect on housing markets across the globe. America has witnessed a declining housing market, down 17 per cent year on year, while the UK market has been following suit, down 15 per cent over the same period. Even simply considering the confidence factor, this will reinject trust into the market. Shoots of optimism are badly needed and Obama's leadership will help to instill the buyer confidence that the market is crying out for.”

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