property market Tag

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