Who was it that said that every cloud has a silver lining? It would appear that the very large cloud that has been hanging over the UK property market for the last 20 months or so may be beginning to dissipate. And who or what do we have to thank? Why Gordon Brown, Alasdair Darling and all the crew from the treasury and the Bank of England of course!

Their sterling abilities have played a major role in reducing the value of the pound to such a low level that has made investing in UK properties increasingly attractive, especially for foreign investors.

The average price of London office real estate declined from more than 22,500 Euros in mid-2007, to 8,020 Euros per square meter in the first quarter of 2009. in comparison to the French capital Paris, where rates fell from about 24,000 Euros per square meter to only around 12,500 Euros.

While financial analysts at the Bank of England continue to predict a “protracted” economic recovery for the U.K., those who might be more in the know are putting their money down on the pound’s decline drawing to a close.

Records show that investments in the pound over the last two months were almost double anything recorded since the late nineteen nineties, coming mostly from pension funds, insurance companies and other institutional investors.

Signs are that these investors are becoming increasingly bullish around sterling as the U.K. economy continues to send out some green shoots.
From a 27- year high of $2.12 in the halcyon days of autumn 2007, the Pound had declined by as high as 36 percent, since beginning it gradual recovery around two months ago. As long as the pound stays at its current levels, the UK will continue you to be attractive not only for foreign investors in the property market, but also for exports as well as one of Britain’s most important industries, incoming tourism.

Experts in the financial markets predict that the day is not too far away when sterling will come under pressure, yet in the meantime current levels in euro-sterling make for a buying opportunity.”

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Tags: Alastair Darling, Economy, Financial News, Gordon Brown, UK property market