52% of UK wealth held in residential property – what does that mean for government policy?
- 24th October 2016
- Landlord Property News
Increasing proportion in buy-to-let highlighting the vital role of the sector in solving the housing crisis
51.6% of the UK’s personal wealth is now held in residential property according to the latest data from HMRC, with a growing proportion of that figure in buy-to-let investments. It illustrates the need for government policymakers to support the sector.
The private rental sector makes a vital contribution to the UK economy through assisting labour mobility for generation rent and providing retirement income for investors.
Additionally, with the £10,000 annual pension contribution allowance, and an ultimate £1 million cap on pension funds, home ownership is an essential part of financial planning. Many retirees can use their property to either unlock capital or downsize as part of wider retirement plans rather than sitting on inaccessible wealth.
The private rental sector makes a vital contribution to the UK economy through assisting labour mobility for generation rent and providing retirement income for investors
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