Currency gains & losses

Despite the bailouts of Greece, Ireland and Portugal the euro has been very strong of late. There is currently a growing view that if "weaker" nations are forced out of the euro zone then the euro will strengthen further. (Italy is probably the middle case). Personally I have an open mind but I thought that since I have been working on the subject recently it may interest a few people if I set out the effect of the euro exchange rate vis-a-viz sterling on the timing of when people bought a house here. Figures are based on quarterly spot exchange rate averages and are expressed in percentages. So, for example, anyone who bought a house in the first quarter of 2000 is looking at a currency gain against sterling of 42.1% on their purchase. Of course this is a pure currency effect and makes no allowance for house price increases/decreases, transaction costs etc. I have more detailed numbers adjusting for mortgage costs, financing rates etc. but I think the basic statistics provide a good flavour. As always, I have  (a) no connection to any currency broker. (b) estate agent. CB.   2000 (1) 42.1 2000 (2) 45.4 2000 (3) 43.8 2000 (4) 45.6 2001 (1) 37.8 2001 (2) 42.3 2001 (3) 39.2 2001 (4) 41.2 2002 (1) 42.7 2002 (2) 41.3 2002 (3) 37.3 2002 (4) 37.1 2003 (1) 30.2 2003 (2) 22.6 2003 (3) 24.8 2003 (4) 26.0 2004 (1) 29.0 2004 (2) 30.0 2004 (3) 30.4 2004 (4) 25.1 2005 (1) 26.6 2005 (2) 27.6 2005 (3) 27.5 2005 (4) 28.5 2006 (1) 27.9 2006 (2) 25.8 2006 (3) 29.1 2006 (4) 29.6 2007 (1) 31.6 2007 (2) 28.2 2007 (3) 28.9 2007 (4) 23.2 2008 (1) 16.3 2008 (2) 10.3 2008 (3) 10.2 2008 (4) 5.0 2009 (1) -1.5 2009 (2) -1.3 2009 (3) 1.2 2009 (4) -2.9 2010 (1) -0.3 2010 (2) 1.9 2010 (3) 6.0 2010 (4) 2.1 2011 (1) --