Consumer confidence in buying property for investment is stronger than ever, according to new research carried out on behalf of property development St Paul’s Square.
The development, situated in Liverpool’s commercial district, found that 64 per cent of people looking to buy would purchase property as a safe investment, above other reasons such as pride of ownership and the increased costs of renting.
David Caught, English Cities Fund Residential Sales & Marketing Director, said: “Nationwide’s figures show that the market is getting stronger, although we are not expecting dramatic increases in the value of homes whilst the market is still stabilising.
"Potential buyers should rest assured that putting money into bricks and mortar is still one of the safest long term investment opportunities.”
The poll by St Paul’s Square showed that city centres were the most popular choice for investment (46.2 per cent) above both the suburbs (26.9 per cent) and the countryside (11.5 per cent).
"It also revealed that 82 per cent of people thought is was ‘essential to buy a property at some stage’ illustrating that becoming a homeowner it is still a high priority, with over 27 per cent citing that paying towards something felt better than renting."
David continued: “The research is encouraging and shows that, despite the economic climate, demand and confidence is still high.
"Initiatives such as the government’s newly announced First Buy Scheme and English Cities Fund Shared Equity Schemes will greatly enhance first time buyers ability to purchase and tackle the problem of large deposits required by lenders, one of their biggest obstacles. The outlook is positive.”
St Paul’s Square is situated at the heart of Liverpool city centre’s commercial district and launched its Shared Equity Scheme earlier this year, giving buyers the opportunity to purchase a one or two-bedroom property for 80 per cent of the full purchase price.
For more information visit www.theperfectsquare.co.uk
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