When you consider that it was only last summer that the value of sterling was around €1.14, the difference is pretty significant when you translate it into property prices. It means that for someone considering a home in the eurozone worth €200,000, the property now costs £162,602 compared with £175,439 at the start of August 2013. That’s a saving of £12,837. Not bad.
Affordability is also being boosted by historically low interest rates and bargain property prices, and this timely combination appears to be drawing prospective buyers back to the market in their droves. In the first three months of this year alone, we saw mortgage enquiries increase by 90 per cent compared with the same period in 2013.
It’s a great time to buy and people who have been putting their plans on hold for the last year or two are taking advantage of the favourable conditions open to them.
Confidence is back.
