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WPG: Bricks and mortar 'still safe'

Wednesday, March 17, 2010

Source: Catherine Deshayes

According a new survey from from the Worldwide Property Group, homeseekers expect house prices to increase over the coming 12 months.

The company's monthly confidence tracker survey revealed confidence in the housing market reached a new high in February, recording an increase every month since November.

The survey also showed that just 10% expect prices to fall, the lowest since the survey began in August 2009 and further evidence that people believe the market to have stabilised.

Further adding to the confidence in property, 4 out of every 5 people surveyed also said that they believe property still offers the best investment potential of any major investment class including shares, gold and currency.

Nearly two-thirds of respondents indicated that they are still feeling the benefit of historically low interest rates and a massive 85% said that they feel right now is a good time to invest in UK property, with just over half also considering purchasing a property overseas.

Commenting on the figures Kevin Wilkes, Managing Director of the Worldwide Property Group said: "The results of this survey show that confidence in property is continuing to increase. As the market strengthens further throughout the year I would expect confidence to continue to increase. The property market has taken quite a knock in the media over recent months, but generally people can see beyond this negativity and still believe in bricks and mortar as a safe place in which to place their money."

Source: www.theinhouseway.co.uk