Direct impact from the US election on London property prices, What can we expect ?
It's been an interesting week, to say the least.... with Donald Trump elected as the new US president, what impact does this have across the pond.... The recent fall in the value of the pound against the dollar means there are great deals available in the London market for buyers from across the Atlantic. While the capital’s house prices have risen 13% year-on-year for domestic buyers, those using the dollar will find homes in London are almost 10% cheaper than a year ago.
One London property firm, specialising only in the "prime" postcodes of the capital, said visits to its website from American users had risen by 300% since the announcement of Mr Trump’s election.
Some however say that a further period of limbo after until action is taken and in that time markets are likely to remain in uncertain territory. This is particularly problematic as it comes on the back of 18 months of limbo when the election result had been too close to call. The knock-on effec on sterling and the FTSE inevitably has an impact on confidence here at a time when we’re already nervously anticipating the fall-out from Brexit.