Sterling perked up a little yesterday lunchtime and stayed there, despite a survey from the CBI that found the UK retail sector to be in even more trouble than expected, while Germany’s business sector is more optimistic.
Another sector seeing real optimism at the moment is overseas property, according to our estate agent and property lawyer partners overseas. An agent in Corfu told me yesterday “believe it or not we are the busiest we have ever been”. And that stretches across the Continent from Cyprus to Brittany – yes, even those places where we have to quarantine on your return. (Should you wish to return!).
We have a number of staff quarantining after overseas holidays and it makes very little difference to them, as they were working remotely anyway.
Do bear in mind that quarantining on your return does NOT mean that you can’t travel to places like Spain and France, or buy property – they are all open for business and there are plenty of flights still.
A far bigger risk to your purchase and lifestyle overseas would be a dramatic fall in sterling, and that remains entirely on the cards as we approach the Brexit end game – or “blame game” as it could easily turn out to be if insider accounts from the negotiations are to be believed.
That is why if you are buying abroad this autumn or moving to keep your EU residency rights intact, that you lock in today’s rate with a forward contract.
Speak to your trader on 020 8108 5337 to do that.
