Currency exchange rate 'bringing foreign interest'

A growing number of people from abroad are showing an interest in the UK's property market, it has been claimed.

Currency exchange rates have been held responsible for the increase, which was reported by whitehot property.

Robin King, director of the company, commented: "The current strength of almost all foreign currencies against the pound makes property in the UK very attractive.

"We are seeing thousands of prospective buyers searching our probate, part exchanged and repossessed properties which suggests a familiarity with the housing market in this country."

The website revealed that six per cent of prospective buyers in the UK lived abroad.

Mr King surmised that the majority of these people were either British expatriates keen to have a base in the UK or foreign nationals who had already spent some time in the country.

While most foreign buyers in the study were from the US, Spain, France, Australia and Germany were also high up on the list.

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Posted by Sarah Pitton