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Property 'still a good investment'

Property is still a good investment, despite a market slowdown, a spokesperson for the property investment company Inside Track has said.In October, the International Monetary Fund warned that the UK was in danger of experiencing a housing market crash similar to that seen in the US, although the latest Nationwide house price index indicates that October saw a 1.1 per cent monthly rise in house prices and 9.7 per cent yearly growth.Pierre Williams, head of communications for Inside Track said: "There's an awful lot of very negative sounding press coverage with regards to house prices. "That's not borne out by reality - just look at the latest index today showing that there's been further rises in house prices over the last month." He went on: "As anyone would expect, there are times when the market is more buoyant than others. "But the key to the UK property market is the fact that we've got a growing, worsening undersupply situation [while] the overall economy remains buoyant. Those two factors are going to underpin prices."

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