Never mind the euro crisis; weak sterling pushes house prices out of reach for many Brits – Telegraph Blogs

Never mind the euro crisis; weak sterling pushes house prices out of reach for many Brits – Telegraph Blogs

Never mind the euro crisis; sterling’s weakness is closer to home and making British property a bargain for foreigners while pushing house prices out of reach for many Brits.

International estate agents Savills report a “champagne tower effect” as billions invested in British property from abroad bolster prime property prices across the board – and continue to propel them upwards in the capital. True, Savills are scarcely the first to note the importance of foreign buyers in preventing the house price crash many predicted at the beginning of the credit crisis but which has stubbornly failed to materialise.