What we can say for certain is that property has always been an appreciating asset in the long term. We can also say that the best investment is property that pays for itself even when there may be temporary corrections in the market.
(PRWEB UK) 19 July 2012
Looking at the latest S&P Case-Shiller Index proves there is life after apparent death in property markets. Miami and fittingly Phoenix are among the top fastest growing cities in terms of house prices in the first quarter of this year.
Loxley McKenzie, Managing Director of Colordarcy said, “Florida property had been virtually written off as an investment by commentators following the crash. I’m sure if there was some mythical news agency reporting on the Phoenix, the mythical creature from ancient legend, they would have said there was no way back for the big old bird either.”
According to the Case-Shiller Index, home prices in greater Miami rose 3.2 percent in April from a year earlier and they have been up month-on-month for five months in a row according to the latest data.
This was of course after prices fell 50 percent from their peak in Miami according to historical data. The city of Phoenix meanwhile posted the biggest one-year increases in home prices, with a gain of 8.6 percent from April 2011 (S&P Case-Shiller).
McKenzie added, “What we can say for certain is that property has always been an appreciating asset in the long term. We can also say that the best investment is property that pays for itself even when there may be temporary corrections in the market.
The reality is that over time, demand for the best properties will consistently outstrip supply to the point where investors always gain. This latest about turn in the fortunes of the Miami property market is no myth and we are seeing a property market reborn.”
Notes to the editor:
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Atlanta, Brazil, Florida, Turkey and the United Kingdom.
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