BRITISH property is now at its most affordable level in 20 years, say Hongkong real estate agents whose business has taken off with the falling pound.
Pressure this week on the devalued pound sterling meant it stood at a sorry-looking HK$11.23, down from more than $15 to the pound about half a year ago.
But this has been good news for Hongkong buyers of British property, who have been getting considerably more for their money.
Falling capital values and British mortgage rates have also worked in their favour.
Average values have come off around 31 per cent from their peak and mortgage rates have fallen from 15.5 per cent to 8.5 per cent.
The latest cut in the base rate to six per cent last week has put renewed pressure on the pound.