The UK has witnessed a strong increase in overseas buyers over the last few months, according to a new report. Hamptons International figures indicate that in prime central London alone, there has been a 20% rise in European buyers and the Country market is witnessing a similar trend with a 12% increase in European and American investors registering to purchase property.
* More news on the property market and house prices
With average house price discounts across the UK now nearing -20% from the peak of 2007, the UK market currently offers great opportunities for investors who have access to funds in other major currencies, for instance buyers with US Dollars can find a purchase in the UK market 39% cheaper than December 2007, according to the report.
‘The devaluation of Sterling has, without a doubt, created an extremely favourable climate for foreign investors in the UK, said Rob Bruce research manager at Hamptons International. ‘We have seen a strong increase in international buyers over the last few months – particularly from Italy and France. This trend started in London and is now filtering out across the Country, particularly in high profile UK regions such as the Home Counties, The Cotswolds, Devon and Cornwall.’
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