11
Dec
Next year labelled as ideal for investment
Those who invest in property next year are likely to gain heavily
from the recovery when it comes, it has been suggested.
Chairman of online change of address service iammoving.com Simon
Preston commented that the cyclical nature of the UK property
market is endemic, meaning that when recovery comes it will see the
return of above-inflation price increases.
He stated that "repressed" demand and the low number of new homes
being built in the downturn will fuel this trend.
Mr Preston reasoned that because of this "it may well be that the
next 12 to 18 months is a good time for people to invest in
property".
One possible signal that the decline in prices could be slowing was
recorded by Nationwide recently.
It noted that house prices fell by 0.4 per cent in November,
compared to 1.3 per cent in October, a finding that prompted the
lender's chief economist Fionnuala Earley to comment that the
decline in values had "moderated significantly".
