Foreign buyers are back in UK
The large loan specialist broker also noted a 7% spike in interest from Jersey-based investors and a 4% uplift from Irish investors looking to invest in UK property.
Paul Welch, chief executive of Largemortgageloans, said: “The fact the threat of mansion tax has dissipated as well as UK residential non-domicile regulations remaining constant is encouraging.
“Teamed with the recent change in pension rules, whereby anyone can access their pension when reaching retirement with 25% tax free cash lump sum, the future of the UK property market is looking even more buoyant.”
Welch claimed that average London house prices are expected to double to a £1m in the next 15 years which he said had driven a year-on-year increase in enquiries of 33% at the brokerage.
He added: “People can now invest and buy UK property with increased confidence. Now the result of the election has been realised, house price growth is inevitable and something the new pension rules have definitely contributed to.
“As a result we are seeing increased activity from internationals looking to invest, with a particular focus on China – seeing a 1,150% increase in Chinese visitors between February and March 2015.
“This is only set to continue as the economy stabilises and it’s promising to see such a large surge of Americans being attracted to our real estate.”