Brexit Vote Shakes up London Property Market

The aftershocks of Britain’s decision to leave the European Union have hit the property sector over the past week, with a foreign bank freezing loans for buyers and some investors pulling out of commercial deals.

Some foreigners, however, are already making the most of the drop in the pound post-Brexit to snap up what they see as residential bargains.

London property has long been a magnet for foreign investors, be it extravagant homes or iconic commercial real estate, and prices in the capital have sky-rocketed.

Key to overseas investors will be whether the fall in the value of sterling is attractive enough to offset the political vacuum, expected economic slowdown and questions over market access that have resulted from Britain’s vote to leave the EU.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.