Almost half (48 per cent) of UK investors still view property as a safe and secure asset in the midst of the Covid-19 crisis, new research has found.
This is compared to just 12 per cent who do not and the remaining 40 per cent who are unsure, according to the survey, commissioned by property investment firm FJP Investment.
Despite their confidence in the property market, the research found that there is some hesitancy around making new investments.
43 per cent of investors surveyed said they are not making major financial decisions until the pandemic has passed and one fifth who were planning on buying one or more properties this year will no longer be doing so as a result of the coronavirus.
Similarly, 19 per cent of investors were planning on selling one or more properties in 2020 but have since decided not to.
852 UK adults were surveyed earlier this month. All respondents had at least £10,000 worth of investments, not including savings, pensions, self-invested personal pensions or property.
“Today’s research demonstrates just how Covid-19 has affected people’s property investment plans,” said Jamie Johnson, chief executive of FJP Investment.
“There is a clear reluctance to engage with the market right now from both buyers and sellers, despite the fact real estate is still regarded a safe investment avenue in this volatile period.
“With the government allowing real estate sales to go ahead again by relaxing social distancing measures this week, it will be interesting to see whether this affects investors’ attitudes.
“Far from being business as normal, I believe prospective buyers and sellers will still tread with caution in the coming month.
“However, once there is more certainty about the future, it seems likely there will be a rush of activity in the property market.”
Source: Peer2Peer Finance News