Sterling weakness has ignited a foreign property buying spree across the UK, making it even more difficult for many British residents to enter the property market. The number of properties sold in England and Wales fell by almost half last year compared with 2015, according to data from estate agents Savills. It also notes that there is a plentiful supply of international money that could pour into the UK via property - there are 63 million potential buyers in China alone.
Sterling weakness has ignited a foreign property buying spree across the UK, making it even more difficult for many British residents to enter the property market. A recent report reveals that over 93% of flats in a major Manchester housing development have been bought by foreign residents through companies registered abroad. It also notes that there is a plentiful supply of international money that could pour into the UK via property - there are 63 million potential buyers in China alone.