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who now pays more or less for an average uk house

  • The value of sterling plummeted on the day that the UK voted to leave the EU and, while it recovered some of its value very quickly, it has fluctuated ever since, leaving the pound significantly weaker on the day Teresa May served Article 50 than it was on June 22nd 2016.
  • The upshot is that prospective buyers with dollars or euros (and many other currencies) find that they can afford substantially more house in the UK than they could before the Brexit vote.
  • UK house prices may have risen by an average of £3,073 in the months since June 2016 but a dollar-denominated buyer would be able to buy an equivalent average-priced property with $45,000 less – that’s $45,000 to put towards an investment elsewhere. It undoubtedly softens the blow of stamp duty increases for overseas buyers.
  • Even the beleaguered euro investor can take comfort – their buying power also increased, meaning a then and now saving of €28,819. Some commentators are already speculating about a rush of EU nationals to invest in the UK before the rules change.
The Property Ombudsman Deposit Protection Scheme Rightmove Zoopla Primelocation