Property is still considered to be the best investment over the short and long term, despite fears of a collapse in the housing market, according to GMAC-RFC.
Its research shows that 68 per cent of people think that property will yield the best return over 25 years compared with only 13 per cent who favour stocks and shares.
GMAC-RFC found that 77 per cent of the 800 adults questioned has not remortgaged in the last five years. Of those who have taken out a remortgage, 39 per cent changed to get a better rate, 31 per cent released equity for home improvements and 12 per cent remortgaged to free capital to reinvest in other property.
Head of marketing services Jeff Knight says: “Whatever the reason for property investment, I expect this trend to continue, despite what other commentators have said. Property has ceased to be just a functional necessity and is now seen as a valid profitable asset.”