Q: Where are all the bargains? A: Overseas!

Can we step up and say we have heard some, er, good news about the property market?

Nationwide has reported house prices (UK) up for the third month in a row. The actual figures are reported to be a rise of 1.3% in July. This may sound low but it actually constitutes the highest climb in a quarter since February 2007.

Another aspect that has been underlined recently, is that there may be a risk of longer term property supplies due the sharp decline in housing construction.


Banks avoid losses
Britain’s taxpayer-owned banks are selling repossessed property assets. Is this good news? Apparently not; according to The Times (24th August 2009) the banks are selling these distressed assets to their own subsidiaries!

This neat little manoeuvre enables them to negate cashing in at the bottom of the market, and to enjoy the inevitable returns in years to come. Looks as if ‘our ‘bailed-out banks continue to share the spoils amongst themselves.

We also read in the Sunday Times (23nd August 2009) home sales in America jumped at their fastest rate in 10 years during July!

Tim Landseer-Brooks from Compass Amazing Resorts says ‘It could emerge that the genuine opportunities lie in the overseas markets, especially The Costa del Sol & Florida’.


Now the Sunday Times has pitched in with an encouraging article about overseas property. Is it time to dive back into the overseas property market?