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UK Property still considered safer than cash

A large proportion of people in Britain still believe it is safer to invest in property rather than save with a bank or building society.

Researchers for a BBC2 series called The Truth About Property found that 53% of people still believe that property is a safer investment than cash.

This poll was taken after the Northern Rock crisis and despite the possibility of a slow down in the housing market. NOP conducted the research at the end of September on behalf of the BBC.

The general publics opinion on property is directly opposite to that of some investment professionals who consider cash safer so long as the bank is solvent.

This means that the Government have failed to reassure the public after their handling of Northern Rock.

Prices have fallen in some parts of the UK during the past months and some experts are beginning to wonder if the long housing boom has ended.

Some first time buyers are beginning to panic and are thinking of alternative ways to get onto the property ladder.

Including:
Queuing throughout the summer in a tent to buy ex army houses.
Buying in Bulgaria in-spite of an oversupply of property threatening to bring down prices there.
Buying with a friend or a group of friends.

Anyone considering buying with a friend would be advised to take out a Declaration of Trust to safeguard his or her interests. Discuss this with your Solicitor.

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Value of Property  
£
(eg 135000) 
Value of Mortgage
£
(eg 85000) 
Type of Mortgage