Homegrown

Overseas investors cash in on UK property as pound falls



Overseas investors are getting a better deal than a year ago following the fall in the value of the pound since the EU referendum, according to Homegrown.

The housebuilding investment platform has found that investors from South Africa and Russia have received the biggest reductions on UK property prices compared with 15 months ago.

South African and Russian investors have been the recipients of a 20.8% discount, meaning that they can pick up a house which would have cost them £1m in June 2016 for the equivalent of £841,000 in real terms today.

The real terms discount for G20 countries since June 23rd 2016

“This just goes to show the incredible value that the UK property market still represents to armies of investors around the globe,” said Anthony Rushworth, founder of Homegrown.

“Growth in the housing market has slowed over the last year, but it’s still growing on an annual basis and foreign demand is bound to be playing its part.”

Anthony went on to add: “Demand for housing has showed no sign of abating in Britain while many still struggle to get on the housing ladder, so it’s vital the country addresses its chronic shortage of housing stock.

“Homeowners have a vested interest in higher prices, but we have to do the right thing by younger generations and keep building.”


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