Back in the 1970s, less than half the UK population owned a property. As time has passed, people have come to realise how much more stable investing in property can be compared to traditional means such as stocks and shares.
Part of the attraction of property investment has been in its tangibility compared to other investments. Property can be seen and felt, as well as having the possibility of further development so that it might appreciate in value. Many also enjoy the increased satisfaction that comes with owning a property. Friends, family and others are much more likely to be impressed to hear of property ownership than of the equivalent in a less tangible investment. As people become wealthier, property ownership for investment purposes has become much more common place and is no longer restricted to high earners.
The multitude of investment and savings options open to people now when compared to earlier decades has led to some preferring to choose property investment for many reasons, not least due to its simplicity. Property has remained a strong earner when viewed over a period of time, and so has gained popularity for long term investment or letting opportunities. In the past, Financial Advisors have been reluctant to advise customers on property investment, offering few services to cater to this type of investor.
Property investment has been opened up to the average investor largely due to the now widespread availability of buy-to-let mortgages and other such mortgage products aimed at the average person wishing to invest. Prior to these products, buying property for investment purposes was largely the realm of dedicated property and land developers, who had the large amount of capital on hand needed to invest. In addition, searching for suitable property has become much easier and faster thanks to property search services on the Web.
Information on property investment, such as guides and the latest trends is much more available than in the past - helping the average investor feel more confident in purchasing a property. With regular talk about house prices and the housing market in news and other media, many are seeing property as an excellent way to invest for the future, or as a secondary income through buy-to-let.