Is Property still a Good Investment

Property has always been a solid venture to invest money into. At the moment the economic climate tends to suggest that investments that were once taken for granted as safe are now more of a risk. It has certainly been the case for centuries that land is the best investment, it still is but its out with the means of most so property is the next best step.

Property in Scotland has taken quite a dip in worth over the last 12 months but taken in the context of a ten year period it is still incredibly high. Back in 1999 a one bedroom flat in my area would have cost you in the region of thirty to forty thousand pounds. It's now double that. The difference between properties being sold now compared to last year is that they are no longer going for offers over the asking price. This is more of a fair system as now a property has a good chance of selling for the amount that it's worth.

There is a good chance that property prices will stay at their current level or go down. It just depends on how long the recession lasts. In Scotland particularly there has been a shortage of affordable housing for years now. Although prices may come in to line with buyers afforability it is also the case that there will be less mortgages available as the banks try to limit bad debt.

There have been stories of a number of different construction and housing companies stopping work on estates they were building due to the dip in property sales. This is a dire situation but it wont last for ever. The simple fact is that the U.K. Will come through the recession and when it does property will once more take its place as a solid investment.