Bargain Britain
by Ritchie Mehta (10 February 2009)
Up until fairly recently many would have termed ‘Bargain Britain’ an oxymoron, however in today’s climate Britain seems to have many bargains on offer.
Until recently Britain hit a tourist's wallet hard, whether they were from the US, Europe or further a field. Today, with Sterling considerably weaker American's benefit from an exchange rate of $1.45 to the £ while our European counterparts will see very little different in the value of the Euro and British Pound.
When one looks at the current state of the economy many investments are looking pretty good value when compared to a year ago. The housing market has declined an average of 16% since last year according to the Halifax House Price Index, and developers such as Barratts have a number of offers to get people to buy their homes. The FTSE lost 30% of its value in 2008, with many banking stocks declining as much as 90%.