House prices continue to slide but property investment still popular

Despite property prices continuing to decline, investing in property is still ranked as the second strongest investment opportunity by specialist insurance broker, Aon Private Clients.

Gold, arts and antiques and shares remain popular investments, with property trusted by 20% of buyers.

Research by Aon, discovered that gold proved to be the most popular investment, as chosen by 28% of potential buyers, followed by art & antiques, shares and celebrity memorabilia at 14%, 11% and 9% respectively.

Daniel Smith, director at Aon Artscope & Specie, said gold has historically been a safe haven for investors in times of trouble.

Even the credit crunch and the biggest fall in gold price for a quarter of a century in March have failed to dent confidence, added Mr Smith.

As with any market, prices will go up and down but the price of gold has consistently increased over the longer period, so is still considered by most to be a sound investment, concluded Mr Smith.

According to the Nationwide building society’s latest monthly survey, UK house prices fell 2.5% in May - the largest monthly fall for 17 years.

It was the seventh consecutive monthly fall, making it the longest consecutive period of decline since 1992. Prices are now 4.4% lower compared with this time last year which equates to a fall of £8,000, this has taken the average UK house price down to £173,583.

Story link: House prices continue to slide but property investment still popular