While the real estate market is losing or flat in neighboring countries in UK, home prices improved over 16% in the first three months of 2006 over the same period a year ago.
The UK real estate is now a buyer's market. In the first three months of 2006, home prices increased over 16% over the same period a year ago. Still, the number of homes sold dipped and the average number of days a home was on the market increased slightly.
It may take a little longer to sell a home as there are more properties to choose from than a year ago but sellers definitely shouldn't be nervous, unless they're looking to flip a purchase made at the height of the market.
Property Investment is probably one of the best mid-long term investment plans although there are risks for the novice investor.
Until recently Property Investment was only for the upper classes. Now we have a broad spectrum of investors ranging from Bus Conductors to Chairmen of top PLC's. They are all looking to get involved in Property Investment and especially off plan Property which in the popular press has received much attention.
It is often the ill-informed purchasers who pay over the odds for properties in areas with either little or no prospects for growth or poor rental demand. If either of these is not in place the investor could loose his shirt.
Secrets to Property Investment Success
1. Choose the right area - get this wrong and your onto a bum deal
2. Is there a good rental demand in the area - are there suitable tenants in he area looking for this type of property?
3. Are the properties all being sold to investors? - Then there could be stiff competition!
4. Is the property in an up and coming "Hot Spot" - If you choose wisely you can make great gains here
5. Are transport links about to be upgraded / improved nearby?
6. Check the asking price has been independently valued
7. Would you live there yourself - don't get emotionally involved with the property - do the sums add up? Can the rental payments cover all mortgage payments PLUS ongoing maintenance and management fees
Investment Property still works if you do the sums!! Off Plan Property is still the best way to start out investing in property.
For details on the real estate property Investment visit http://www.griffinsales.co.uk/
