5 Jul

Reita: Investors are positive about UK property

Reita: Investors are positive about UK property

A survey has revealed that the majority of people are feeling positive about the property investment market.

Reita's quarterly Property Investment Perspective found that more than 90 per cent of respondents think opinions on UK properties and investment conditions have improved over the past three months.

This is the highest score for positive sentiment recorded by the poll since the research began in March 2008.

Patrick Sumner, chair of Reita, explained that since hitting a low point in March earlier this year, UK property shares have now rallied by over 40 per cent.

Furthermore, half of the Reita Expert Panel, which includes representatives from 24 leading industry organisations, think that house prices will stabilise over the remaining quarter of this year.

Mr Sumner said: "The market appears to be less concerned about the continuing fall in net asset values (as long as covenants are not breached) than about the sustainability of dividends."

Earlier this week, Nationwide revealed that house prices were up 0.9 per cent in June this year.

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