14 Apr

Expats boost UK property market

Expats boost UK property market

New research shows many Brits living abroad are keen to stay on the UK property ladder.

A study by Lloyds Bank found that many expats want to benefit from the growth in prices in the UK, as well as the weak pound.

In particular, those currently based in the UAE, France and Switzerland were the most likely to buy a home in the UK.

In total, 38 per cent of over 1,000 expats surveyed plan to buy a UK property over the next two years and rent it out in order to benefit from the income.

Richard Musty, director at Lloyds Bank International Banking, explained that confidence in the property market is strong.

He added: "Our recent Investor Sentiment Index in March showed that consumer sentiment for UK property had grown by 50 percentage points since March 2013, so it's not a surprise that Brits abroad are looking back home."

The weak sterling also means that a £300,000 property is now 25 per cent cheaper to a European-based buyer compared to 2007, according to the Daily Telegraph.ADNFCR-1222-ID-801712267-ADNFCR

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