- Overseas purchase of UK property remains strong
- Investors ready to make the most of sterling’s fluctuations
- World-class developments like Ancoats Gardens attracting keen interest
29 September marks just 6 months to visit before the UK leaves the EU
. The country’s journey since the referendum has been turbulent and at times bitter. However, overseas investors remain positive about the long-term viability of the UK’s property market, based on specialist property investment agency Surrenden Invest.
Despite recent gloomy predictions from the Bank of England’s Mark Carney about the way forward for the united kingdom property market, investors’ confidence has not been rocked. After all, they heard similar predictions rigtht after the referendum. Instead, based on the experts at Surrenden Invest, investors have simply become more particular concerning the products they choose.
Jonathan Stephens, MD, Surrenden Invest
Ancoats Gardens in Manchester is really a prime example. The 155 apartments are well-located, beautifully-designed and offer a number of on-site facilities that will command tenants’ attention. With huge windows and ceilings up to 0.5 meters greater than the typical city centre rental apartment, the light-filled homes, with their huge roof garden, coffee lounge and multi-level, 1,715 sq . ft . gym offer world-class living standards. Launched in early September, the expansion has already attracted foreign investors looking to pick up multiple apartments.
The exchange rate has played an important role in this. The pound remains cheap in accordance with its pre-referendum value. Despite its stability in the last year, it remains around 10% undervalued on certain markets, for example versus the dollar and Middle Eastern currencies. And investors will be ready to make the most of any more dips.
Jonathan Stephens, MD, Surrenden Invest