As the “Countdown to Brexit” clocks start to re-appear in the media, both sides are taking stances that make an agreement seem less likely. The pound, already at a low starting point has begun to slide significantly and could fall further. A low exchange rate has often been a trigger to opportunistic investors who can step in looking to make a quick profit on the fluctuations in the currency market. However, given that property prices are also some way off their peak now could be the perfect time to take advantage of the low currency, lower prices and Brexit uncertainty. Given that the recovery in property values would also most likely coincide with a recovery in the value of the pound, those with a long term view may not find a better moment to enter the market.
Jaimie Beers, Managing Director, Madley Property
For more about the fall in the pound please see below articles.