The Worldwide Property Group’s confidence survey for October reveals that overall confidence in property is continuing to improve.
Just over two thirds of those who took part in the survey said that now was a good time to invest in overseas property whilst a huge 87% said that now was a great time to invest in UK property.
When asked where they thought house prices were headed over the next 12 months, 63% said they expected an increase, just 1 in 10 expect prices to fall further.
On the subject of interest rates 67% said they were benefiting from the current low level and 63% said this had increased their desire to invest in property. 54% said they expect rates to rise over the coming year, down from 60% last month.
Property is still viewed as the best investment with three quarters saying this is where they would put their money, Gold was second with 18% of the vote whilst shares received just 4%.
On the subject of best overseas region in which to invest in property, the survey respondents voted the Caribbean as number 1. Brazil, Portugal and Canada all ranked highly.
Interestingly, the under 25’s and over 65’s are the most optimistic with 100% of each group anticipating property price growth over the coming year.
