Hugh Graham writing in The Sunday Times sets out how the weakness in the sterling rate as a result of Brexit is enabling expats to snap up bargains and buy their dream home in the country back in the UK.
The statistics support the anecdotal evidence that this is having an impact on the market.
This sponsored article is published in full here: www.thetimes.co.uk/article/by-taking-advantage-of-the-weak-pound-expats-are-keeping-the-rural-property-market-alive
The downward spiral of the pound may be a thorn in the side of British holidaymakers, but it’s blooming good news for UK nationals who live abroad, earn in foreign currency and are snapping up their forever England home now.
“Expats are what’s keeping our market alive,” says James Mackenzie, head of Strutt & Parker estate agency’s country department. “There are far fewer London-based Brits moving to the country. The last six houses within a 20-mile radius of Bath have gone under offer to or been sold to expats.”
Some intend to let their new British home before returning; others are using them for holidays, so they can establish ties before coming back for good. Most are based in Asia — Singapore, Hong Kong, China, Malaysia.…Read more