Bricks and mortar still pay over time
DAVID Whitaker, of law firm Lupton Fawcett, says that housing remains a very resilient long term investment and once again bricks and mortar are looking like a secure place to be.
He adds; “In the early 1970s the average house price was below £5,000. Today you are looking at around £170,000. If you had put your money in the bank in 1970, and relied on compound interest, your capital would be nowhere near enough to buy an average house today. However, evidence suggests that if you had purchased a property in 1970; the value of your investment would now have increased many times over.” He suggests that student property could be a good investment.