With the somewhat surprising outcome of last week’s presidential election in the US, the world is beginning to ask what Donald Trump’s win will actually mean in the wider picture.
It may be that the UK sees an increase in businesses and investments that are moved fully or in part from American, as historically the UK has been viewed as a sensible place for non-British business people to keep their money when their own company is in an unstable, precarious period.
Even with a slight increase in value against the dollar since the Trump election, US investors may still look to relocate to the UK.
Since Brexit, the pound has suffered against the dollar, meaning that it could be the perfect time to buy, with American’s getting a whole lot more for their dollar in the UK at this time with London house prices at almost 10% cheaper than they were just a year before.
A bonus for mortgage payers is that the gradual strengthening of the pound again may reduce the chances of the Bank of England increasing rates in order to counter a strong dollar. This remains to be seen.
Trump was very vocal in backing Brexit, and promised favourable trade agreements with the UK if he were elected. If this comes to fruition, the UK would undoubtedly be in a better economic position, that would positively affect the housing market, as well as the commercial property sector.
Much remains to be seen how the UK will be impacted by the election of Donald Trump, as uncertainty appears to be our new norm we wait to see how the situation will unfold.
If you are in the process of buying/selling a property, or would like some advice on any financial matters then you are welcome to call us for some advice , guidance and reassurance.
Call on 01608 651608 or contact us via our enquiry form and one of the team will be happy to discuss your concerns and requirements.