Overseas buyers return to London property market

Foreign investors looking to make an international payment on a property in London currently constitute a large number of enquirers into such purchases.

According to independent estate agents Douglas & Gordon, buyers are returning to the property market as values in the capital have seen greater drops than the national average.

"First-time buyers, along with foreigners, are probably at the moment making up a fairly large number of the enquiries that are out there, so it's quite encouraging to see them back in the market," commented Ed Mead, director of sales at the firm.

He went on to say that it is no wonder that investors are targeting the capital as they should be able to get a good return on their investment - which may be good news for those looking to make an international payment on a London home.

Last month, building society Nationwide reported that UK house prices fell by more than 16 per cent in the past year, dropping by 1.3 per cent in January 2009 alone.