High-end property market 'flourishing'

Posted by Mark Cunningham

People searching for high-end residential properties have been doing so in a much-improved marketplace in recent years, an expert has said.

According to Ed Mead, director at Douglas & Gordon, the trend of low interest rates in the UK as the country continues to emerge from the effects of the recession has resulted in this area of the sector "flourishing".

Mr Mead explained that for those who were able to readily access finance, the downturn actually represented something of a "good recession", as it permitted them to borrow capital at "very cheap rates".

"For the baby boomers and beyond it has been an unprecedentedly good time to be buying a property," he added.

These comments came after the publication of research by Lloyds TSB earlier this week (May 2nd), which showed that the number of £1 million-plus property sales increased in 2010 at its fastest annual rate for four years.
ADNFCR-2353-ID-800520947-ADNFCR

05/05/2011 15:31

News category: Property

Return to News