The UK property market may be set for an increase as buyer number rise due to expatriates taking an opportunity to come back home. This could augur well for people needing a Quick Home Sale.

What appears to be happening is that many British citizens who sold up in the UK over the past few years so that they could move abroad are now getting a hankering to return home. For many the house in the sun has not worked out to be the delight they had wanted and a bit of homesickness has set in. A lot have not settled and feel a long way away from family and old friends. The birth of new grandchildren is also a large tug pulling people back to the UK and making many look for appropriate translations for “Sell my House fast”!

But underlying these emotional motivations are some reasonable economic reasons why now may be the time to bail out of property abroad and buy back in the UK. The obvious aspect is of course the recent fall in property values of about 20 -25%. However such falls are not much use if the property currently owned, in France or wherever, has also devalued by a similar value. This is not by any means the situation for all foreign houses though, anyone purchasing in Dubai around 4 years ago will still gain from a healthy increase even with recent property price corrections there. So there are some locations where people may have bought houses which has gone on to considerably outperform the UK housing market.

The second factor is the depreciation of the pound against many other currencies, especially the dollar and the euro. So anyone selling in the Euro area will have their property sale proceeds improved by on average 15% over what they could have achieved a couple of years ago. The same applies to the dollar, however the difficulties in the US housing market may in some states be worse than the UK, reducing the exchange rate benefit.

The combined result could give homecomers up to 40% more spending power when returning to the UK, making now a perfect time to act. So provided they can manage to Sell Home Fast abroad they can be expected to land on UK shores very soon. And their first port of call hopefully will be the estate agents. They will in effectbe cash buyers and will not want to suffer rented accommodation for too long, so they could represent a welcome boost to buyer numbers which will help to kick start the housing market, or at least consolidate the stabilisation which would appear now to have occurred.

Of course, this will not be a huge effect, no one expects repatriation in droves, but in the present fragile market every little helps.

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This entry was posted on Sunday, September 6th, 2009 at 12:07 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.