Property prices increase globally suggesting market is good for investment
Global property values are on the up as most countries record an increase in house prices, according to the Knight Frank House Price Index.
It reports that almost 70 per cent of countries analysed were experiencing higher property prices, with prices even rising slightly in Dubai. The popular overseas property investment spot, Spain, has still not recorded an increase in house prices since the global recession ended.
The UK was named as having one of the most promising property markets in the near future.
Liam Bailey, head of residential research at Knight Frank, said: "The UK, which, despite being hit extremely hard initially, is staging a strong comeback as a shortage of houses for sale is contributing to rising values with demand outstripping supply."
This suggests now is an ideal time to invest in off-plan UK property as buyers begin to return to the market.
Figures from the British Bankers Association reveal that mortgage approvals for October 2009 had almost doubled year on year. In total there were 42,000 home purchase loans approved in October.
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