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Could London house prices rise after Brexit because of weaker pound?
sann420
Posts: 122 Forumite
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,
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,
0
Comments
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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).
Jx2024 wins: *must start comping again!*0 -
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!0 -
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.0 -
If only there was a whole section of the forum dedicated to Debating House Prices....:D0
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