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Property still top for investment, study finds

23 October 2006
People in the UK are still putting their faith, and their money, in the property market when it comes to investment.

According to the findings of Standard Life's Savings and Investment Index, investment in buy-to-let increased by 23 per cent over the course of the last three months.

This makes this kind of house purchase the second most popular way to invest in property, after spending on our own residences.

Chief executive at Standard Life Assurance Trevor Matthews said: "The Standard Life Savings and Investment Index clearly shows that the UK saver prefers to invest in bricks and mortar."

Despite this, he pointed out that Britons still do not save as much as they should. Of the respondents, 30 per cent admitted they were saving less than they did last year.

Mr Matthews added: "It is worrying that overall the savings gap appears to be widening and this issue needs to be addressed by the industry."

A recent report from mortgage broker John Charcol revealed that first-time-buyers could be missing out on properties due to the speed with which buy-to-let investors snap them up, with 38 per cent of them putting in an offer within hours of viewing.

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