You are here: Home - Uncategorized -

Property falls sharply in favour as investment

0
Written by:
31/01/2011

The proportion of people who believe property is the best long-term investment has fallen sharply over the last quarter to just 34%, according to the Association of British Insurers (ABI).

Figures revealed this was down from 49% in Q3 2010 and 54% in Q2 of last year. It marks the lowest level of confidence in property as an investment since the ABI began its survey in Q3 2008.

Nevertheless, of the 2,500 people surveyed, property remained the most popular asset class. It was followed by savings accounts, stocks and shares, and national savings products, which have all risen in favour as long-term investments as consumer confidence in property has fallen.

Helen White, acting director of life and savings at the ABI, said: “For the vast majority of savers, a pension should be a fundamental part of their savings plan. Pensions attract generous tax relief and, through life styling, can reduce risk as people approach their retirement.

“We know that over 40% of people are not taking basic steps to save sufficiently for their retirement. This may be as property, despite its fall from favour, is still seen by many as being their retirement nest egg. This is despite the dangers of investing in a single asset and the lower returns on property compared to equities for long-term investments.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
UK economy shrinks shock 0.5%

The UK economy shrank a shock 0.5% in the last quarter of 2010, as adverse weather swept the country, figures...

Close