The first set of results are now in for the Worldwide Property Group investor survey and the results are extremely positive with the majority of the opinion that property prices will rise over the next 12 months.
Here is a snapshot of the results:
58% feel that prices will rise over the next 12 months, with 24% of the opinion that prices will be static, and just 18% anticipating further falls.
Of the people who think prices will rise, 76% expect an increase of up to 5%, whilst 20% feel that 5%-10% is more likely, and 4% are of the opinion that we could see a rise of between 10% and 15%.
On the subject of interest rates, two thirds of the respondents expect an increase over the coming with one third believing that rates will remain unchanged. Of those who are expecting a rate rise three quarters anticipate a rise of no more than 1%. A two thirds majority are currently feeling the benefit of low rates.
We asked whether now was a good time to invest in UK residential property, 78% said yes and 22% said no. When asked if this was currently a good time to invest in foreign property 72% said yes and 28% said no. Interestingly, 66% are currently considering investing in an overseas property.
Unsurprisingly, 80% of respondents are of the opinion that property still offers the best investment potential. Gold and shares each received 9% of the vote whilst savings and currency each recieved 1%.
So there you have it, property is still widely regarded as the best investment and confidence in the market appears to be high.
If you would like to take part in our August survey please click here. You could even win £20 in John Lewis vouchers.
