20
Nov
UK "well-placed" for property market recovery
The UK is in a strong position in terms of its property market,
according to an expert in the industry.
Andrew Teacher, media manger at the British Property Foundation,
believes that the British housing industry will recover well,
making it a good option for investors.
He argued that, as the recession was caused by the collapse of the
financial sector rather than the economy as a whole, the country is
well-placed to recover quickly.
Mr Teacher said: "In terms of real estate, we are in a good place
in the UK for a comeback and it could be a very sound investment
right now for a lot of people."
He added that a renewed sense of confidence was pervading the
market, leading his organisation to predict signs of recovery in
the sector.
Two of Britain's biggest property developers - Land Securities and
The British Land Company - commented that the property sector was
showing the first signs of an upturn when they released their
half-yearly financial results in September 2009.
