Almost half of the UK population believe property is the best way to make the most of their money when saving for retirement, the latest Wealth and Assets survey from the Office for National Statistics reveals.
In total, 49 per cent picked out property as a sound investment, with the number of people turning to it increasing each year since 2012.
The ONS comments: “Since July 2010 and continuing into the latest period of July 2016 to June 2017, the percentage of people identifying property as making the most of their money has been increasing, which may reflect a growing confidence in property prices over this period.”
Property is also named the second safest way to save for retirement, after personal pensions, by those surveyed. Almost a third (30 per cent) say that property is a safe retirement investment, up from 29 per cent the last time the survey was carried out.
These two options have been the most popular answer to this question consistently since 2010 says the ONS.
The study also finds that the nation is increasingly comfortable in handling its debt burden. It states that 63 per cent say they are keeping up with their credit commitments without any difficulties, the highest figure since the question was first included for the period of July 2010 to June 2012.
Hargreaves Lansdown senior pensions analyst Nathan Long says: “The Government’s attempts to make buy-to-let investing less attractive have done nothing to dim the attraction of property as the best way to make most of your money.”