Could London house prices rise after Brexit because of weaker pound?

sann420

Hi All,

The pound has become weak after Brexit news. Given that London is such a desirable place to own a property in globally. Do you think this could trigger a huge influx of foreign buyers into the market and as a consequence make the house prices go up rather than down?

Thanks,

hazyjo

If Investors, they're unlikely to want to invest in a falling market and will try to buy at the lowest level.


If homeowners, again, they won't want to buy as the peak.


I think it'll be static for a while then, once people realise the sky hasn't fallen in, they'll buy (albeit very cautiously).


Jx

DRFC1879

sann420 wrote: »

Hi All,

The pound has become weak after Brexit news. Given that London is such a desirable place to own a property in globally. Do you think this could trigger a huge influx of foreign buyers into the market and as a consequence make the house prices go up rather than down?

Thanks,

Good point. If I was a dollar-rich investor I'd be snapping up London property post-haste!

bitsandpieces

A lot of the foreign investment going into London property has been due to this being seen as a relatively safe place to put money while enjoying capital growth. There's suddenly a lot more uncertainty about this (and the $ value of London properties will have taken a big hit overnight with the falling pound).

London will still be a desirable place to visit or to live, but a lot of the money coming in has been focussed far more on the investment potential than on actually living in or using the properties purchased. Anything's possible, but I certainly wouldn't bet on brexit driving price rises.

Pixie5740

If only there was a whole section of the forum dedicated to Debating House Prices....:D