04/09/2016
Bank of England’s chief economist says property better than pension!
In an interview this week with The Sunday Times, The Bank of England’s chief economist and member of its nine-strong monetary policy committee, Andy Haldane, admitted property is almost certainly a better route than pensions for people planning for retirement.
Named one of the 100 most influential people in the world by Time magazine, answering a question on property versus pension, Haldane replied “It ought to be pension but it’s almost certainly property.
“As long as we continue not to build anything like as many houses in this country as we need to meet demand, we will see what we’ve had for the better part of a generation, which is house prices relentlessly heading north.”
With the central bank cutting its interest rate from 0.5% to 0.25% last month, and property still providing excellent returns – especially in the North – there’s never been a better time to invest.
In an interview this week with The Sunday Times, The Bank of England’s chief economist and member of its nine-strong monetary policy committee, Andy Haldane, admitted property is almost certainly a better route than pensions for people planning for retirement.
Named one of the 100 most influential people in the world by Time magazine, answering a question on property versus pension, Haldane replied “It ought to be pension but it’s almost certainly property.
“As long as we continue not to build anything like as many houses in this country as we need to meet demand, we will see what we’ve had for the better part of a generation, which is house prices relentlessly heading north.”
With the central bank cutting its interest rate from 0.5% to 0.25% last month, and property still providing excellent returns – especially in the North – there’s never been a better time to invest.
