Homeowners looking to buy a property abroad could be waiting to see if exchange rates become more favourable, in the view of one expert.

Robin Wilson, head of overseas at Rightmove.co.uk, said that sterling is currently very strong against the euro, but this could be what is preventing people from splashing out.

He explained that buyers are currently getting around €217,000 for £175,000 - €30,000 more than they were only eight months ago.

However, the specialist believes the result of this could be that buyers are waiting to see how high the exchange rate will go in their favour before they commit to making a purchase.

"Without time pressure, rising sterling rates may have the opposite effect as people sit on their hands and try to call the top of the market before splashing out," Mr Wilson added.

Recent research from the Worldwide Property Group found that 62 per cent of people currently believe that it is a good time to buy a foreign home.

Written by Fiona Mayers

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