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There has been an increased amount of activity in the property market, with one of the reasons being that first time buyers   are now finally able to afford a home. House prices, not just in the capital, but across the UK have increased in November and the Office for National Statistics (ONS) has reported an increase of 5.4% in November compared to a year ago.

London saw a huge increase of over 11% compared to a year ago. Without counting the statistics for London and the South East of England, property prices increased 3% compared to the inflation rate of 2.1%, meaning that the prices of residential properties is rising faster than the general cost of living.  

London has been the driving force for price increases over the last year. However, other areas across the country are now showing an increase in prices too. This could be because of the fact that first time buyers are looking further away from the capital due to fierce competition from overseas investors, coupled with the fact that other cities are generally lower in price than London. This new interest in other areas has driven prices higher than in the past.

This is good news for those who are looking to make a medium-to-long term investment in the property market. A safe investment would of course be in the capital, with previous trends showing that prices are rising here at an average of just over 5%. By renting out the investment property, landlord would see a steady flow of income until the time is right to sell the property. As with any large purchase, it is important to evaluate the property based on its age, the location it is in and the general demographics.

If you are looking to purchase a property for investment purposes, contact us for advice. We will be able to offer you expert advice, free of charge, to help you on your way to making a great investment in an asset proven to appreciate in value.

22nd January 2014

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