Nearly 20 percent of British people believe that Buy-to-Let property is the best investment for their savings, despite accepting that there is likely no ‘safe’ investment for the long-term.
Interesting, the age of people weighed heavily on their answer, with older generations were less inclined to trust Buy-To-Let safety than those aged between 35 and 44. 15 percent of those aged 55 and over trusted this option, compared to 25 percent of 35-44 year olds.
Unsurprisingly the highest percentage of people, at 34 percent, believed that a high interest ISA was the safest bet – despite the increasing difficulty of finding an ISA with a really beneficial interest rate.
According to the survey published by property marketplace, TheHouseShop.com, one in four people lacked confidence in the safety of any investment option and said nothing in particular is a safe bet for long term savings.
Nick Marr, Co-founder of TheHouseShop.com, comments on the enduring popularity of Buy-To-Let investment:
“It was interesting to see that despite the recent cuts to Buy-To-Let tax relief, increased Stamp Duty on second home purchases and tighter rules for BTL lending, property investment still holds enduring appeal for Brits looking to secure their long-term savings.
“The fact that 1 in 5 Brits still view Buy-To-Let as a safer investment option than stocks and shares, premium bonds, investing in start-up companies and even ISAs, demonstrates confidence in the strength of the UK property market and its ability to maintain investments in the long run”, he continued.
Opinions were also split both geographically and by gender, with 12 percent of Londoners more optimistic on the ability of stocks and shares to maintain long term savings as opposed to the nationwide average of 7 percent. Men were twice as likely to view stocks and shares as the safest investment, with 4 percent of women vs 9 percent of men.