Property website Rightmove has reported an increase of 32% in searches for overseas property during the month of August. This is the highest search volume since August last year.
Clearly, a proportion of this increase can be attributed to people returning from an overseas holiday with dreams of buying a property in the sun, or just a general interest to see what’s available. However, an increase in interest usually results in an increase in sales activity, therefore this is excellent news for the overseas property investment market.
At the Worldwide Property Group we have seen much the same pattern. Property searches via our website, and general enquiries have increased considerably over recent weeks. This is already resulting in a significant increase in the number of properties being reserved.
This evidence, along with the Rightmove results, lends weight to the general feeling that confidence is returning to the property market. In fact, this was highlighted in the results of our August confidence survey in which a huge 79% of the respondents said that they still believe property to be the best place in which to invest their hard earned money. Now that’s confidence!
