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The Strength of Sterling

It has been noticed recently that the Sterling’s strength is waning, after some hopeful sparks of Britain’s being released from the recession, news has now broken that Sterling has fallen 11% against the Euro, which hit a peak in June 2012. The weakness of the Sterling may seem double edged, it may seem negative with regards to the economy as a whole, but the international market for central London estate agents has not been adversely affected. Reports show that 60% of central London’s transactions were with international buyers, primarily Middle Eastern, Asian and Russian buyers, although there has been a noticeable rise in interest from French buyers since May 2012. The upshot of this is that trading prices in Greater London are currently standing 6% higher than they were in Q4 2007. Over this time scale, while central London properties have ostensibly risen 19%, Chinese buyers with Renminbi in their pockets will have seen them fall by 23%. However, despite the fluctuating state of Sterling, London is still considered a high yield investment for international investors and is still regarded as a ‘safe’ investment market. International interest in central London is centred on investment opportunities but is also popular with international buyers because of its proximity to some of the world’s highest achieving universities – many international parents seek to buy property for their children while studying in order to avoid disruption and costs of moving.

It has been noticed recently that the Sterling’s strength is waning, after some hopeful sparks of Britain’s being released from the recession, news has now broken that Sterling has fallen 11% against the Euro, which hit a peak in June 2012.

The weakness of the Sterling may seem double edged, it may seem negative with regards to the economy as a whole, but the international market for central London estate agents has not been adversely affected. Reports show that 60% of central London’s transactions were with international buyers, primarily Middle Eastern, Asian and Russian buyers, although there has been a noticeable rise in interest from French buyers since May 2012. The upshot of this is that trading prices in Greater London are currently standing 6% higher than they were in Q4 2007.

Over this time scale, while central London properties have ostensibly risen 19%, Chinese buyers with Renminbi in their pockets will have seen them fall by 23%. However, despite the fluctuating state of Sterling, London is still considered a high yield investment for international investors and is still regarded as a ‘safe’ investment market.

International interest in central London is centred on investment opportunities but is also popular with international buyers because of its proximity to some of the world’s highest achieving universities – many international parents seek to buy property for their children while studying in order to avoid disruption and costs of moving.

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