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By Assetz UK [ 05/06/2008 ] Publishing Free Articles Zone articles is subject to our Publisher's Terms Of Service |
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There are many markets buy-to-let investors can target, but in seaside towns tourism is undoubtedly to the fore.
But while many could see property in locations such as such as Cornish coastal towns with good surf as an ideal place to find holiday lets, there is also the question of housing value. A survey by HBOS, based on Land Registry statistics, showed different trends in terms of house price rises.
During 2007, Rock was certainly not a hard place for those selling a home to make a profit, with the Cornish resort seeing a 28 per cent increase in prices from £282,097 to £361,838. This was followed by Sandbanks in Dorset, whose famous residents include FA Cup winning manager Harry Redknapp at 22 per cent, then another Cornish town, Fowey, at 20 per cent.
As well as seeing bigger increases, the south-west also included nine of the ten most expensive seaside towns (Milford-on-Sea in Hampshire being the exception), with Sandbanks leading the way at £628,014.
Yet longer-term trends suggest a slightly different picture. Although the southernmost three regions with coasts (south-east, south-west and east) had 13 of the 25 top risers in 2007, Rock was alone in being in the top 25 over the previous five years. Here, locations in Wales and the northern regions dominated. The top location for this long-term increase was Seaham in County Durham at 193 per cent, although the price remains a comparatively modest £126,348.
This figure indicates a different longer-term pattern to the one prevalent in 2007, while the lower prices in northern and Welsh areas bears comparison with recent trends showing Scottish homes to be growing faster in price than those in England but remaining cheaper because they started from a lower base.
Therefore those looking at buying properties may find that they can buy expensively in the south-west and make a good profit, but it may also be the case that longer-term trends could see a smaller outlay bringing in a proportionately greater return over a longer period. The latter may be a better move in the current uncertain climate.
A further survey indicates another factor which investors may need to consider. Property portal Hotproperty.co.uk found in a survey that more than half of buyers (52 per cent) would pay a premium of ten per cent for a home with a sea view. One in five was willing to pay 20 per cent more and major clients director Nick Leeming said three per cent were ready to pay up to 45 per cent more.
Given this, investors may wish to be careful when making a choice. Plenty of homes in seaside towns do not actually offer a sea view. On the basis of this survey, investors who carefully choose their seaside town on the basis of price trends could look at other characteristics of a property, such as transport links and the proximity of amenities, but still be in error if they buy a property with no view of anything between the land and the sky.
In today's world Property investment is an excellent investment option especially investment in UK.
About the author:
Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property.
Article Source: http://www.Free-Articles-Zone.com