The mini-budget caused a massive crash in the value of the GBP as it caused panic across numerous markets, and the following division of the Conservative Party only added to this uncertainty.
This has caused the GBP to stabilize after the crash in value, with the value of the pound rising to the equivalent of $1.13 at the time of writing, a sharp rise from the lowest value in September of $1.07. This shows confidence is beginning to return to the UK economy, even if it will be a long road to recovery.
For investors, this means it is still a good time for foreign investors to consider UK property, but they should act fast before the value of the pound recovers.
In this way, they can get the best value for their money and then benefit from the stability of the pound in the future as the UK economy rebuilds its strength.
Jeremy Hunt is expected to make a further statement on the 31st of October, which will obviously have new ramifications for the economy and the UK housing market, but you can be sure that we will keep you up to date with what you need to know as a property investor.