Property and land becoming more valuable
Brits who are considering investing in a home improvement may be pleased to hear suggestions that non-cash assets are becoming more valuable.
According to new figures, residential land prices in England have been rising at their strongest rate for five years.
The Knight Frank statistics show that the cost of such land has increased by 11.5 per cent in the 12 months to March 2010, with developers and house building companies making up a large proportion (44 per cent) of buyers.
Royal Institution of Chartered Surveyors chief economist Simon Rubinsohn explained that the increase in land prices showed that people are beginning to value property, equity, arts, antiques and other non-cash assets more highly.
"Interest rates [...] have been held at very low levels and, against that sort of background, where alternatives to cash are generally delivering superior returns for investors and savers, there has been a rush for other assets and land is simply reflecting that general trend," he said.
Posted by Cheryl Stevenson
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