Interest in property increases by 16%
Wednesday 18th February 2009
The press may be all doom and gloom at the moment, but the property market certainly isn’t. In fact it seems to be getting better and better with each passing month.
In a recent report released by the Royal Institution of Chartered
Surveyors, they experienced – for the third month running – an increase in property interest of up to 16%.
An increase that backs up the growing theory that buyers and investors alike are returning to the property market.
But the Royal Institution of Chartered Surveyors are not the only ones to feel this surge in interest, the National Association have also reported a similar uptake.
Discussing these details in their January report, they found during the first 2 weeks of January, that the number of first time buyers investing in property more than doubled to 22.5%, whilst the number of registered buyers rose to 14.5%.
This sudden burst in interest is not that far off what is considered to be the first signs of a market recovery. The NAEA for example witnessed a surge of property sales topping on average 4 per estate agent during these same 2 weeks, compared to their 6 property sale average during November and December.
Now whilst the recession has still got a way to go, all of these figures when placed side by side, equal optimistic news for the property market!
Having lost a lot of consumer confidence during the onset of the credit crunch, the fact that 22% of these sales were due to property investors, proves that confidence is returning.
And it is not only property investors who are feeling the pull of the property market.
With property prices now 17.2% cheaper than they were this time last year, the appetising appeal of these properties is attracting a lot of interest.
The only obstacle left for obtaining these incredible deals is getting a mortgage – something that as an investor you won’t have to worry about if you invest in Property Mentor NVQ accredited scheme
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