UK Property Investment Blog

Signs that the property market is on the verge of a revival are growing more prominent in the media.

Following a survey by the Bank of Ireland, they found that two in five first time buyers were planning on investing in the property market during the next 18 months. A time frame that correlates will all the other recent action that has been taking place on the property market.

During January and February 2009 alone Rightmove reported an upsurge of interest from 1st time buyers, with a further 36% finalising on sales during this same period.

The impact of this sudden revival in the market is already having a positive effect upon property prices. For 2 consecutive months in a row, property prices have increased by 3% in value.

Combined, all these figures point towards the same conclusion: the property market is changing and is changing for the better.

Continuing in their survey, the Bank of Ireland discovered that due to the current nature of the property market:

70% of buyers surveyed wanted to buy as soon as possible due to low property prices
10% want to invested soon due to low mortgage rates
80% of 1st time buyers believed the market is more affordable
40% believed there is good value in investing in the property market
35% believed there are good rates available

Plus 81% of the people interviewed ranked acquiring a property as one of their top three goals to achieve in the next 18 months: career and further education being the other two.

Put into context, these statistics leave you with 2 promising outcomes: a tenancy group in need of rental accommodation over the coming 18 months, or the perfect opportunity to expand your current property portfolio while prices are still low.