The attraction of buy-to-let may be waning as far as some people are concerned due to a series of tax changes, but the reality is that property remains a solid long term savings fund route, viewed by many as a crown jewel of an investment.
With savers receiving dismal returns from banks and building societies, many people continue to turn to residential property as a means of supplementing their income, supported by record-low mortgage borrowing rates, high demand from tenants and increasing rents.
With investment in the PRS continuing to outperform other major asset classes, buy-to-let remains the investment of choice for more than a third of Britons, according to a recent survey carried out by Perrys Chartered Accountants.
The research found that 35% of people in this country are most confident in property compared to any other investment, thanks not just to rental returns but also capital growth, with 8% of respondents to the survey revealing that they are relying on the equity from their property as their main source of income for retirement.
Stewart Pope, CEO at Perrys Chartered Accountants, said: “It is worth taking a look at your existing assets to see how you could maximise potential for the future.
“With the right advice and some effective tax planning you could find that this makes a long term difference to the shape of your financial future.”