Despite rising real estate costs, a falling pound gives overseas homebuyers a £40,000 discount

LONDON: The most recent study by lettings and estate agents Benham and Reeves revealed that international buyers currently turning to the UK property market are saving a significant amount thanks to the weaker pound, enjoying savings as high as £40,000, despite house prices continuing to rise over the last year. (Reported by news source)

The average home's worth has climbed by 4.8% even in London's slower housing market, fetching £543,099 in the current market.

While domestic homeowners have struggled with the rising costs of moving up the ladder, overseas purchasers have had the chance to save money thanks to exchange rate swings and a weaker British Pound relative to other currencies.

The savings for buyers from the UAE were similar to those in London, amounting to a reduction of 6.5% or AED 167,986 or -3.9% on their purchase. This equates to savings of £12,142 on the typical UK property or £38,690 on the typical London home.