UK market uncertainty is ‘opportunity for bold buyers

Prime property transactions may be down by half in the UK, but the uncertainty in the market presents an opportunity for international buyers, says a developer and search agency.

The fall in the value of the pound fuelled by uncertainty over June’s EU exit vote offers bolder buyers a window of opportunity, claims Louisa Brodie, Head of Search and Acquisitions, at Banda Property.

“In recent weeks, the pound has hit a seven-year low against the US dollar and softened against the euro as a result of uncertainty surrounding a possible Brexit following the 23 June Referendum.

“Whilst uncertainty can be bad for the market as investors adopt a ‘wait and see’ attitude, we expect bolder foreign buyers to see this as an opportunity – and possibly even more so – if they are to avoid April’s new SDLT rates for second home/ buy-to-let purchases,” she says.

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