Latest results from the Worldwide Property Group property confidence tracker survey have revealed property as the best option for investment with a huge 75% of respondents saying they would choose property as their first investment choice, showing that government legislation changes have not affected market confidence. In contrast, just 2% of people who took part in the survey during June said that they would put their money into shares. Interestingly, gold received 17% of the vote.
When asked if the current historically low level of interest rates has increased their desire to buy a property, two thirds (67%) said yes with 79% of the opinion that right now is a great time to buy a property in the UK. 65% of respondents share the view that property prices will continue to rise over the coming 12 months, with 4% believing this could be by as much as
15% - 20%.
On the subject of overseas property a very respectable 65% believe that this is currently a good time to buy a foreign property with 62% actively considering a foreign property purchase. Once again the region attracting most attention from potential property purchasers is the United States, particularly Florida. A number of European countries including Spain, France, Italy and Cyprus also ranked highly amongst those people looking for a second home.
Kevin Wilkes, Managing Director of the Worldwide Property Group said: “Although the stock market has been performing rather well over the last 12 months, in more recent weeks it has taken a bit of a tumble with the FTSE 100 losing nearly 1000 points since Mid April. In comparison the property market has demonstrated far more resilience to recent global economic shocks and has already regained a great deal of the value that was lost over the last few years. The results of this survey clearly demonstrate the confidence that the general public has in the property market.”
Source: Ageants.co.uk 21.07.10
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