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23/09/2008
Property Most Popular Investment For NI Financiers
Property investment is the most appealing option for Northern Ireland financiers, according to research by Mintel.
Over half of investors in the Province view property as the best means of holding capital.
The survey suggested only one in 10 Ulster people invest in stocks and shares. With 51% relying heavily on property ventures.
According to the Mintel survey, consumers in Northern Ireland have £35b available for investment.
However, investors have been warned of the financial risk of over-relying on one type of capital outlay.
The Northern Bank’s Katherine James said: "As a general rule consumers shouldn't rely on one specific type of investment to build their long term wealth.
"While other types of investments aren't without risks, a diverse investment portfolio can help build long term wealth and reduce risk," she added.
Just over a third (35%) of Northern Ireland people current pay into a pension scheme.
Meanwhile, news has emerged that UK mortgage lending by the major banks fell to a record low in August, with approvals for house purchases 64% lower than a year ago.
The British Bankers' Association (BBA) said that 21,086 mortgages were approved for house purchases, down from 58,564 in August last year.
(PR)(BMcC)
Over half of investors in the Province view property as the best means of holding capital.
The survey suggested only one in 10 Ulster people invest in stocks and shares. With 51% relying heavily on property ventures.
According to the Mintel survey, consumers in Northern Ireland have £35b available for investment.
However, investors have been warned of the financial risk of over-relying on one type of capital outlay.
The Northern Bank’s Katherine James said: "As a general rule consumers shouldn't rely on one specific type of investment to build their long term wealth.
"While other types of investments aren't without risks, a diverse investment portfolio can help build long term wealth and reduce risk," she added.
Just over a third (35%) of Northern Ireland people current pay into a pension scheme.
Meanwhile, news has emerged that UK mortgage lending by the major banks fell to a record low in August, with approvals for house purchases 64% lower than a year ago.
The British Bankers' Association (BBA) said that 21,086 mortgages were approved for house purchases, down from 58,564 in August last year.
(PR)(BMcC)
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Northern Ireland WeatherToday:A cloudy day with a little light rain or drizzle at times, but some spells of drier weather too. The north coast may become somewhat brighter later this afternoon. Maximum temperature 11 °C.Tonight:Cloudy and patchy light rain will slowly clear away this evening. Then the rest of the night will be dry with broken cloud. Westerly winds freshening in the early hours. Minimum temperature 6 °C.
