Research from housebuilder Barratt Homes has revealed that savings accounts continue to be the most popular haven for investors in the West Midlands. This is despite the fact that property can lead to better long-term returns.
Nearly 60% of people in this region have their money in savings accounts. While the One Poll data showed that just 8% currently invest in property, 39% said they would consider it if they had the necessary funds available to them. Over 43% said they believe property is a safer investment choice than shares.
Barratt Homes believes the recent pension freedoms have given people greater flexibility on how they invest their money. As such, they expect to see a further growth in property purchases from this demographic.
“Although property investors are in a minority, the fact that almost 40% would consider bricks and mortar is positive news,” Graydon Worthing, Sales Director at Barratt Homes West Midlands, commented. “The survey also revealed that more than 60% are looking for a regular income which suggests that property would fit their bill perfectly.”
“A good rental property makes a compelling investment that can not only offer a monthly rental income but provide the investor with a capital growth and realise a potential return if and when they choose to sell,” he added. “People also believe that bricks and mortar are a safer investment than shares so our role now is to ensure that people can easily be guided through the property investment process.”