12 May

The Market in St Ives

The Market in St Ives

The St Ives area is different from all other areas of the UK, not only geographically but economically too. As such the housing market trends that come out from mortgage companies and R.I.C.S tend not te be very useful for this part of the country.

Where other areas are perhaps still reeling from the recession or double dip recession St Ives and the surround area seem to have been immune somewhat from the doom and gloom. Builders are busy with order books 8 months or so in advance, the shops in thw town were reporting one of the best Easter Weekends for many years, and here at Cross Estates and taking into consideration the housing market generally, it has been a very busy first 5 months of 2012.

As the holiday season approaches fast, it has become evident that the 2nd home market, during the recession time has increased. As banks drop interest rates in savings accounts, people with savings or lump sums are incresingly looking for other avenues to explore to make their money work for them.

Typically in St Ives this works by purchasing a holiday home or investment property. This can and does work for you, with the returns ranging from 3% to sometimes over 10% although the capital growth aspect is taken into consideration.

While generally it has been good for St Ives, there are still some issues now that, when buying a investment property it would be worth speaking to a professional about, for example, styles of property, location etc.

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