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ONS Wealth and assets report – property still king

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ONS Wealth and Assets report just published and according to this latest research, the British love affair with bricks and mortar shows no sign of abating. From Richard Wazacz, Octopus Choice.

According to this latest research, the British love affair with bricks and mortar shows no sign of abating. While a company pension scheme may be seen as the safest route to save for retirement, people still see residential property as the asset class that will generate them the best returns. 

Investments in, or secured against, residential property are generally seen as the ones that will deliver the strongest returns over time. After company pension schemes, they’re also seen as the next safest way to save for retirement. The UK investing and saving public is acutely aware of the historical returns generated from residential property as an asset class and many clearly expect more of the same moving forward. 

One major cause for concern is that just under a third of people have sat back and thought how many years of retirement they might need to fund. At the same time, more than four in ten are fairly confident that their income in retirement will give them the standard of living they hope for. This could be a significant disconnect. 

At a time when people are living longer, and state support is likely to reduce, more than ever people need to save and invest rigorously for their futures. With interest rates potentially stuck at their current low for some time yet, people are increasingly having to go slightly higher up the risk curve to achieve real returns.”

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