Weaker pound will not prompt a surge in overseas investment

The depreciation of the pound has been one of the few positives for the UK commercial property market over the past year. After all, for overseas investors, the pound’s fall has made UK property far cheaper, both in absolute terms and relative to property in Europe or the US. However, with the UK economy embarking on a potentially deep and damaging recession, we are not convinced by arguments that the fall in the currency will trigger a recovery in the property investment market.