Hi PropEx - On the surface what you say seems logical. However, I haven't seen this. Most Landlords/Investors take a medium-long term view (5+ years at least). They're thinking is that the deficit is coming down in the UK, it has its own currency and interest rate policy and is therefore deemed as a safe haven. Yields may be better in the USA in general, but capital appreciation - especially in towns/cities being regenerating (such as Crossrail) will outperform the USA. Most Investors I know are expanding before April 1st (stamp duty changes). In this mornings news Cherie Blair's law firm is battling to quash the controversial tax proposals next year - in essence, I don't think they will allow for this to go through...