Liverpool Flats Sold As Overseas Buyers Eye Sterling Drop
International property agents are reporting increased interest from overseas investors, following the fall in the value of the pound by up to 10% against the dollar since the Brexit vote. According to Manchester-based advisor Matthew Lavin, of Benoit Properties International, there has been "a surge in interest in buy-to-let property from investors in the Middle East, Hong Kong and other countries with currencies pegged to the dollar". Lavin said: "Over the weekend we sold six apartments in the Produce Exchange in Liverpool to a group of buyers from Saudi Arabia, who had seen the news about the falling pound and seized the opportunity. They saved around $130,000 collectively compared to what they would have spent on Thursday night." In the past seven days, the value of the pound has fluctuated from $1.5 the day before the referendum to $1.31 afterwards, a 31-year low against the dollar. Lavin continued: "One