In the fallout of yet another completely unforeseen ballot result, the UK’s markets woke on June 9th to a hung parliament and a pound that was down against the US dollar by 2% at $1.27, and down against the euro by 1.7% at a 7-month low of €1.1350.
This wasn’t as dramatic as the 10% plummet which followed 2016’s referendum vote, but the truth is, nobody has a clue what’s happening now or what’s around the corner; everything is speculation.
However, the state of the pound does make UK property an even more attractive prospect for overseas investors with the exchange rates offering them bigger and better bricks for their bucks.
And for domestic investors too, who may be concerned at the volatility in the markets generated by the uncertainty of the last year or so, certain sectors of the UK property market represent a safer haven.
UK property investments: better value than ever
Sectors such as purpose built student accommodation and serviced apartments, for example, actively benefit from currency fluctuations.
A UK university degree is highly prized worldwide, and at times like these represents excellent value – already around 25% of our 2.27 million students come from overseas; they all need somewhere to live.
Similarly serviced apartments – inbound tourism for the first quarter of 2017 was at an all time high and the trend is ever upwards; a weak pound only makes the prospect of a trip to the UK, the world’s 8th most visited country, even more appealing.
Any investor looking for a silver lining to the cloud of chaos should explore our market-proof investment opportunities.