9 Sep

Many consider holiday homes "a good investment"

Many consider holiday homes "a good investment"

The recession has caused many people to look at different assets that offer "opportunities" and "potential" and many now consider holiday homes to be "a good investment", according to one property expert.

Geoff O'Neill, owner of the South Hams branch of east Devon and west Dorset firm Coastal Property Search, said that people are less inclined to travel and are currently looking at investment opportunities and potential.

His comments follow the release of figures from Nestoria.co.uk, which reveal that property prices in many traditional UK holiday areas are performing better than the rest of the country.

"Everybody needs to be cautious about their investments but, over the very long term, properties perform well against other forms of investment," stated Mr O'Neill.

He added that if it is a long-term investment, then it will have potential.

This news comes after the Land Registry House Price Index recently found that property prices in July increased by 1.7 per cent to £155,885.

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