UK Money News
2nd May 2008
Brits will continue to 'keep faith in property investments'
Britons' faith in property as an investment is unlikely to be permanently affected by the recent downturn in the market, it has been claimed.
This morning the monthly house price survey from Halifax revealed that house prices fell by 1.3 per cent during April.
The report followed similarly gloomy findings from Nationwide which recorded a drop in prices of 1.1 per cent during the month.
However, according to Stephew Ludlow, director of residential letting agent, Ludlowthompson, a slowdown in the sector will not prompt a change in investing habits among consumers.
He said: "Most people see housing as their biggest accumulator of wealth, rather than investing in investment vehicles or pensions, because the growth on investments is changing. Massive changes in taxation laws mean that any growth on investments is taxable.
"You obviously get 100 per cent tax relief on the sale of your property. As long as that stays in place, you will always get a swing back to home ownership once you have got the fundamentals of the economy right."
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