Breaking news: Air France is planning to launch a range of low-cost domestic flights linking French cities, taking on Easyjet and Ryanair as they are both already well-established in the French domestic flights market.
The number of Brits buying euros for property purchases has increased in the last few days after sterling reached a rate of €1.15 for the first time since August 2008.
Foreign currency broker World First has seen a 40% increase in clients buying euros, while new enquiries have shot up by 24%.
“A number of our clients in the market for euros are taking advantage of the improved exchange rate and buying their euros for overseas mortgage payments, property purchases etc now,” World First’s head of private clients, Elisabeth Dobson, told OPP.
“They are delighted to be getting a rate that is up to 12% better than the lows we have seen over the last 17 months. There are a number of clients who will have been holding off on property purchases and overseas investments due to sterling’s weakness against the euro. This rate move will certainly spur people on.”
A run of economic good news from the UK, including a fall in unemployment, rising inflation and an anticipation that the country is out of recession, has helped increase the pound’s strength. Meanwhile, economic problems in Spain and Greece have weakened consumer confidence in the euro.
Continuing improvements
Not all currency brokers have seen a substantial increase in business. “€1.15 is a bit of psychological barrier but most clients are still waiting for the magic €1.20 number,” Marc Morley-Freer, commercial director at Moneycorp, told OPP. “After the UK election we could see improvements that could push people to make lifestyle purchases – things are too uncertain before then.”
World First’s chief economist Jeremy Cook remains bullish following sterling’s 9% growth over the last year. “I don’t think this run in particular will last because it has happened so quickly, but the pound could be up to around €1.22 by the end of the year,” he told OPP.
Source: OPP- http://www.opp.org.uk/
For the fourth year running, France comes first in the annual Quality of Life Index, scoring high marks across the board. Its health care and infrastrucure were highly rated but obviously its lifestyle and quality of life is France main appeal: good food and wine, lazy lunches, great fashion, superb architecture and varied landscapes offer something for everyone. Vive la France
SERIOUS BRITS BRAVE SNOW FOR FRANCE SHOW
The first UK property show of the year drew determined buyers at the weekend, despite poor weather conditions.
Travel and property exhibitors at The France Show at Earl’s Court, London, reported a busy show on Saturday 9 January despite the total number of visitors expected to be around half of last year’s figure.
“Generally the quality of buyers was better than at other shows and a lot of people were going on visits in January and February,” said Chris Bishop, managing director of agent Latitudes.