View more on these topics

Half of Brits back property as investment: ONS

House-Property-Ladder-Rising-Prices-640.jpg

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.”

Recommended

Mortgage-House-Coins-Wallet-House-700x450.jpg

FCA: Lenders must do more to solve interest-only problem

The FCA is urging lenders to do more to tackle the issue of maturing interest-only mortgages with no repayment strategy. Nearly one in five mortgage customers have an interest-only mortgage and the FCA is worried that shortfalls in repayment plans could lead to people losing their homes. The regulator announced a thematic review of interest-only […]

Handshake-Business-Finance-Deal-Corporate-700.jpg

Former Barclays boss joins Hargreaves Lansdown

Hargreaves Lansdown has hired former Barclays retail banking boss and fintech expert Deanna Oppenheimer as its new chair. Oppenheimer will replace Mike Evans when he retires from the board as non-executive chairman on February 7. Oppenheimer also has non-executive directorships at Tesco, Whitbread, Axa and Worldpay and was previously in charge of retail banking at Barclays. […]

Could Proptech revolutionise construction?

By Rebecca Murphy, relationship manager, LendInvest  The construction sector offers enormous potential when considering the implication emerging technologies could have on both existing processes and final results. While the completion of an entirely 3D-printed office block may be ‘sexier’ news than a new smart toolbelt that tracks the wearer’s location on site, each area of development […]

Newsletter

News and expert analysis straight to your inbox

Sign up