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House Prices & Foreign Currency

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  • House Prices & Foreign Currency

    Hi All

    Bad news for some... I have it on good authority that house prices (UK) are about to take somewhat of a plunge and perhaps even to the extent of 20% over 12 months.

    You might think otherwise with the current boom in all UK markets, but it is waring thin at the moment.

    For instance - £ Vs $ has weakened by 0.04 cents in a week. Admittedly this probably was on the cards but it will probably dip below the $2 mark shortly and worsen to around $1.98 very soon.

    The Euro is on an about turn too as it dips by a little over 0.03 e/cents in the same period.

    This is not good for those people who buy both EUR and USD in exchange for GBP.

    My advice. Don't sell your house just yet as I'm not in the real estate world.
    But do sell your £'s for Euros and Dollars now!

    If anyone needs advice on locking a rate now for future use, please feel free to ask, it may be worthwhile as we see a sharp decrease in the value of GBP.

    Kind regards

    FX Specialist

  • #2
    The USD still offers a decent exchange rate for anyone looking to buy into the US market - and with US property prices still falling, it may be a market that yet offers some decent gains - so long as you pick the right area.

    As for property prices here falling - heh, I've said that for a couple of years already, but lowering interest rates provided extra fuel to an economy that was left to runaway, and now we're seeing the harder end of the economic cycle because of it.

    Property prices fall? Maybe - but I think the underlying point for many people is that a home is a long-term investment, and that short-term equity issues shouldn't present too much of a worry - so long as you're not foolish with it.


    2c.

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