Why a no-deal Brexit could send London's prime property market soaring again

But a possible general election and leaving the European Union, with or without a deal, on Halloween, still hangs in the balance. And with both sides unwilling to move on the issue of the Irish backstop, no deal is looking likelier than ever.

The crisis is an interesting precedent. When the financial crisis hit, sterling and property prices plummeted, which enticed overseas dollar buyers into the prime London markets where their money went much further than before—sending house prices soaring for several years. In fact, given that prime London property prices peaked in recent years, the collapse of sterling might offer a discount buyers have been waiting for—renewing the market after a dull period.

“Our subscribers are reporting an increase in enquiries from dollar buyers, who, when the time is right, could look to invest in central London real estate,” Dixon told Yahoo Finance UK.

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Europe: London stock market opens higher after pound slides[LONDON] London's stock market opened higher on Tuesday after the pound slumped under US$1.20, lifting share prices for multinationals who get most of their earnings overseas, while eurozone indices dropped. Read more at The Business Times.
Fonte: BusinessTimes - 🏆 15. / 51 Leggi di più »