Property remains a good investment

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by Kay Murchie

Prospective investors into the UK property market are being urged not to be deterred by the downbeat reports that are currently in the press regarding market conditions.

Two separate reports this week have said prices increased by 1.1% last month, one was the latest property index from the Nationwide.

A spokesperson for Inside Track said housing still represents a good investment for UK people and that many of the claims currently being made about the property sector are ‘not borne out by reality’.

The company added that medium to long-term property investors can still make a profit in the market in spite of price growth cooling recently.

The group said the recent slowdown may actually be beneficial to a market which was previously growing at an unsustainable rate.

Key Financial Consultants said that homebuyers should not pay too much attention to the UK property market, as long as the mortgage is affordable.