20 Nov

UK "well-placed" for property market recovery

UK "well-placed" for property market recovery

The UK is in a strong position in terms of its property market, according to an expert in the industry.

Andrew Teacher, media manger at the British Property Foundation, believes that the British housing industry will recover well, making it a good option for investors.

He argued that, as the recession was caused by the collapse of the financial sector rather than the economy as a whole, the country is well-placed to recover quickly.

Mr Teacher said: "In terms of real estate, we are in a good place in the UK for a comeback and it could be a very sound investment right now for a lot of people."

He added that a renewed sense of confidence was pervading the market, leading his organisation to predict signs of recovery in the sector.

Two of Britain's biggest property developers - Land Securities and The British Land Company - commented that the property sector was showing the first signs of an upturn when they released their half-yearly financial results in September 2009.
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