12
May
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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