The weakening value of the pound has meant that buying property back home in the UK has never been more attractive for British expats living abroad.
The high prices in London have also meant that the increase in these types of buyers are not only being seen in traditionally prime areas of the central London market but also in the surrounding Home Counties.
With the bank bailout in Cyprus and the subsequent bank account levy hitting the savings of British expats there is a growing desire to move assets somewhere safe. British bricks and mortar may benefit from inward capital flows.
Nick Mead at The Buying Solution, part of Knight Frank property agents, told The Telegraph, "The weakening pound is not only benefiting overseas nationals looking to invest in the UK property market, but those Brits repatriating. We're seeing a number of buyers who work in finance and have been posted overseas for a few years returning to Britain and wanting to purchase a family home in the Home Counties.
“They will have been remunerated in the local currency, and as such, benefit from sterling's weakness. At the same time, the increase in property prices in London means that when they return, they can also cash in on the strengthened London market by selling their property.”