Overseas Property Agents Missing Out On UK Property Opportunity

Last year, UK based overseas property agents were selling Bali property like it was the house along the road; selling Canadian property to rich women from Thailand (past experience), Ukraine property to rich Russians and Eastern Europeans and all for investment returns.

But now, as the weakness of Sterling combines with UK price drops to make UK property an equally good if not better option for many investors around the world, the same agents are failing to capitalise on the sale of UK property.

OK, many of them have the word overseas in their name, but that wouldn't have stopped them from selling a property in Cambodia to a Cambodian, so why should it stop someone in the UK selling UK property to someone living elsewhere; to them UK property is overseas?

Though some have started listing UK properties, none of the ones I have seen are putting the same level of effort into selling UK property as they did and still are putting into selling overseas property.

Of course overseas property is still selling, and as expected sales have picked up at the start of this year, though to nowhere near the heights being seen at this time last year. But I can't help thinking that they are missing out on potentially greater sales by not putting their weight behind selling UK property.

I believe this is the case, because these agents have underestimated the length of the credit crunch: UK property has been becoming better as an investment steadily for the last few months, and now as it is being listed in the top ten most popular destinations by several influential sources, agent's that haven't previously sold it are thinking, there's no point bothering now, overseas property is picking up.

OK, as I said sales have picked up at the beginning of the year, as always tends to happen after Christmas, and the abysmal performance of other investments including the 1% being earned from bank savings will probably cause continued growth in sales.

But UK property is expected to continue falling in price until at least late 2009, and UK property grew faster than anywhere else during the last boom, so it will likely continue to increase in popularity as it gets cheaper. That gives agents new to selling UK property at least 6-9 months to get into the action. I don't think they should risk missing out, do you?