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Property is better than gold – it's official!

publication date: May 21, 2010
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In the latest monthly survey carried out by the Worldwide Property Group 88 per cent of respondents named property as the best option for investment. Gold was second, with all other investment options, including shares, barely receiving a mention at all.

The company’s April confidence tracker survey also revealed a number of other interesting figures. The number of people indicating that they are benefiting from the current low level of interest rates has reached the highest level since the survey began nearly a year ago, at 79 per cent.

However, when asked for their opinions on the direction of interest rates over the next 12 months, 79 per cent said they believe rates will increase; however, not one person was of the opinion that they would rise by more than one per cent, which indicates at least another year of very low interest rates.

On the subject of house prices, 71 per cent expect values to increase over the course of the year, with only eight per cent anticipating a further fall. This is the most positive result since August of last year.

Turning attention to whether now is a good time to buy property in the UK, a staggering 92 per cent said ‘yes’. Three-quarters also said that that right now represents a good time to buy a property overseas with the USA attracting the most attention outside of the UK. Once again, these figures are the highest since the survey began.

Kevin Wilkes, MD, World Property GroupCommenting on the figures, Kevin Wilkes (pictured), Managing Director of the Worldwide Property Group said, “The results of this survey are very encouraging as we can clearly see that confidence in the property market is continuing to increase. Despite a number of gloomy reports recently in addition to the general uncertainty that surrounded the potential result prior to the general election, people are showing great positivity and faith in the property market, and with very good reason.

“History shows that the period immediately following a recession can be a great time to buy property. When combined with the continuing prospect of very low interest rates and an increase in overall market activity we are certainly seeing a rebound in the market that should continue throughout the year and beyond.”