Just as we were recovering from the shock Brexit decision to leave the European Union, we are handed another political grenade in the election of Donald Trump as President of The United States of America. If you had bet on these two events and Leicester City winning the Premiership you could have got 3,000,000 – 1 at the beginning of the year!
Initial speculation is that a Trump victory could be good for the UK property market as disgruntled Americans start to invest their cash elsewhere in the perception that Trump will be bad for the US markets, with an interest rate rise on the cards for the new year. Also foreign buyers, particularly from the Middle East, may view London more favourably than New York in light of Mr Trump’s policies.
However this is likely to mean more investment in high priced properties in and around the capital than floods of offers in the Home Counties. However we have had calls to the office here from a couple of Americans seeking refuge. And the logical development of more investment in London, particularly with the pound at a 31 year low against the dollar before the election, are that we will see more activity in the area as Londoners take their equity out into the countryside. Here in Henley we have a rich history of London buyers investing in the area, seeing the schooling system as a distinct plus alongside the charm of the town and the draw of the river.
Given that generally the numbers of properties coming to the market are down on previous years this extra boost to demand locally could prove welcome for house prices in the area. Let us hope that it appears soon.
Y’all have a nice day now.
Simmons and Sons