There has been a sharp rise in the number of people from the within the eurozone acquiring property in London in recent months thanks largely to a beneficial exchange rate that is effectively giving eurozone purchasers buying property in London greater purchasing power, according to new analysis.
The research, conducted by Stirling Ackroyd states that residential property prices in London have fallen by an average of €33,200 (£25,500) for eurozone buyers over the past seven months thanks to the strengthening euro against the pound.
According to the London estate agents, the depreciation in sterling in June means the average price of a home in London now equates to €596,900, compared to a record high of €630,100 in November 2015 – a €33,200 saving that amounts to a 5.3% discount within London’s residential market.
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