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Landlords looking to extend their property portfolio in the coming months
have been handed encouraging news in regards to house prices, after the Royal
Institution of Chartered Surveyors (RICS) revealed that the cost of property in
the UK continues to fall.
On top of this, those looking to expand onto the continent can take
advantage of slowing price rises in Europe. The RICS European Housing Review
2012, released on February 28th, discovered that residential property in the UK
fell by one per cent in 2011.
Most other European countries reflected this trend, though others
nonetheless did well - Germany, France, Switzerland and Norway registered house
price rises of five per cent or more. However, people looking for bargains to
rent out may prefer to look in Ireland or Spain, which experienced significant
falls - 17 per cent and 10 per cent drops respectively.
Nonetheless, there could be no better time than now to take advantage of
low-priced stock. Since mid-2007, house prices in the UK have fallen by nearly
one third; this is much more than in Spain (-27 per cent), Italy (-14 per cent)
and Germany (-11 per cent) and France (-8 per cent).
Professor Michael Ball, author of the RICS research paper, said: "Real
house prices in the UK have fallen by a third over the past four years, due to
a combination of a weak housing market and general price inflation. This has
been one of the largest declines in Europe and will help to underpin housing
market recovery once economic growth picks up again."