Dollar earners could be 'white knights' of property market

Posted: 14 Jan 2009 10:04:40 GMT

The number of US dollar earners contacting County Homesearch, the UK's largest network of homefinders, in the first two weeks of 2009 has increased sharply, the company has stated, suggesting a potential rise in sales from overseas investors.

Only a matter of days ago Marc Cogliatti, currency strategist at HiFX, suggested that a slight rallying of the pound might slow down international home buyers, but a surge of interest from USD earners suggests otherwise.

Jonathan Haward, managing director of County Homesearch, commented: "We have had more inquiries in the last two weeks than in the last two months combined and the vast majority have been dollar buyers, including those based in America, the British Virgin Islands and even Botswana."

Such a rise in purchases from dollar earners - who have seen their currency rise 25 per cent in value against the pound since its 2007 trough - could cause asking prices to become more sturdy despite the buyer's market which exists within the UK.

Homeowners hoping to achieve the best price for their property could benefit from selling their home online, however, which can attract a greater number of potential buyers.



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