11 Dec

Next year labelled as ideal for investment

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".

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