International buyers: who’s getting the biggest budget boost for their UK Property purchase?

IFX, partner of Fine & Country Foreign Exchange, share their second guest blog post, discussing how international buyers can get the most for their money in the UK.

Since the Brexit referendum vote and the price drop of the Great British Pound, there has been an influx of international buyers who are keen to cash in on the lowered exchange rates.

Be it for a second home, permanent relocation or investment reasons, international buyers and British expatriates relocating back into the UK are on average getting a 20.97% discount on their purchase compared to the highest currency spikes seen in June 2016. We have calculated the monetary value for some of the UK’s most frequent overseas buyers and compiled a selection of beautiful UK Fine & Country properties that would be available with a range of potential budgets.

We can start with the currency pair that is particularly raising the demographic of the ‘average percentage’ and that is GBPZAR.

The British pound versus the South African Rand

GBP has experienced a 33.2% fall against the ZAR compared to its highest point of 21.965 on the 19th June 2016. In late August 2016, the GBPZAR level is around 17.2.

To put this into monetary terms, let’s assume our buyer is looking to spend 10,000,000 ZAR.

In June 2016, this would have equated to a sum in the region of £455,267. Today the same Budget of 10,000,000 ZAR will equate to around £581,395. A £126,128 budget increase.

For this budget, the UK offers a vast range of beautiful properties, one in particular is this beautiful 3-bedroom penthouse in a landmark location of Liverpool.

North Point, Pall Mall, Liverpool

Price from £449,500

Contact 01704 468040 or liverpool@fineandcountry.com

The British Pound versus the Australian Dollar

GBP has experienced a 19.8% fall against AUD compared to its highest point of 2.0078 on the 2nd June 2016. In late August 2016, GBPAUD level is around 1.68.

On a spend of 1,000,000 AUD? In June 2016, this would have equated to a sum in the region of £498,057. Today the same Budget of 1,000,000 AUD will equate to around £595,238. A £98,957 budget increase.

The British Pound versus the United States Dollar (including any major currencies pegged, such as the AED, QAR, HKD, BHD, SAR)

GBP has experienced a 16.6% fall against USD compared to its highest point of 1.5015 on the 23nd June 2016 – the night of the referendum vote. In late August 2016, the GBPUSD level is around 1.2875

If our buyer was looking to spend 1,000,000USD?

In June 2016, this could have equated to a sum in the region of £666,000. Today the same Budget of 1,000,000USD will equate to the region of £776,699. A £110,699 budget increase.

The British Pound versus the Euro

GBP has experienced a 14.3% fall against EUR compared to its highest point of 1.3150 on the 23nd June 2016. In late August 2016, the GBPEUR level is around 1.1500.

If our buyer was looking to spend 1,000,000EUR?

In June 2016, this could have equated to a sum in the region of £760,456. Today the same Budget of 1,000,000EUR will equate to around £869,565. A £109,109 budget increase.

For this substantial budget, buyers can buy an exclusive London riverside home in the Elegant Corniche building.