Recent research from numerous sources suggests that the UK’s property market is well on the way to recovery.
In the past month alone, Halifax Building Society has revealed that British house prices are at their highest level in three years; the Council of Mortgage Lenders has reported that the number of first-time buyers has surged for the past five consecutive months; the Office of National Statistics and Rightmove have both recorded significant price increases; and a Royal Institute of Chartered Surveyors (RICS) Residential Market Survey has revealed buyer demand is at its highest level since 2010.
All this could spell good news for homeowners looking to emigrate away from the UK.
Around the middle of the last decade, emigrating Brits who managed to sell their houses could look forward to starting their new life abroad with healthy financial backing. House prices had increased so much that the equity left following a sale would often enable the seller to fund their emigration dream and, in some instances, allow them to buy their dream house outright in their new destination.
The 2008 credit crunch put paid to this dream for many. House prices fell so much, so quickly, that people could no longer bank on funding their emigration through selling their property, while the market became so stagnant that many would-be emigrants were either unable to sell or receive anywhere near their desired asking price, leaving them having to put their dream of emigrating on hold.
However, with so many signs now indicating that the UK’s property market is not merely waking slowly from its slumber, but recovering with all the energy of an overexcited toddler of Christmas morning, it may not be too long before the thought of emigration becomes plausible for many of those who have been priced out of the dream in recent years.
Of course, selling a property is not the only way of funding a move abroad, but with a house being the biggest financial asset most people have, it’s sure to be important for many.
If you find your local housing market has recovered sufficiently for you to be able to sell your home at a price that is agreeable to you, then it may time to start speaking to a currency exchange company. In order to maximise the funds you will have available to you following the sale of your property then you’ll want to ensure you’re getting the best exchange rate on your money.
Click here for more information on the property market in the UK.
When it comes to, say, exchanging money for a holiday then gaining a good exchange rate is little more than a bonus. When exchanging potentially hundreds of thousands of pounds, however, it is essential to get the best exchange possible, as the smallest swing in the market can still make a massive difference to the cash you will have to set yourself up in your new life.
UK residential property demand increasing (15th May 2013)
London property demand at pre-crisis levels (30th April 2013)
UK house prices increasing (17th April 2013)
Report reveals record UK house price increase (15th April 2013)