Property Wealth

Investing in property is arguably one of the most important routes for building private wealth in the UK at the moment. Back in the summer the Office for National Statistics published figures that highlighted the fact that much of the UKs £8.8tn wealth is linked to property, a 6 per cent increase since 2014. Around the same time the Guardian reminded us that a surge in house prices in 2015 offset the UK’s decline in savings, the slow recovery of the banking sector and the government’s growing debt mountain. In other words, many people are seeing investment in property as a safer and more reliable way of increasing their wealth than other forms of investment.

Of course it can be as simple as purchasing a house and living in it but to really make property investment work for you takes a little bit of thought.

Firstly you need to think about why you want to invest in property, what is motivating you and what you want to get out of it.

Next you need to consider the strategy that you are going to use? Owning and managing a property portfolio is a business and you will need to consider the business tools that you plan to use.

Finally you need to be honest about the time you have available and the skills you have (and don’t have) and you need to build a team around you that can plug the gaps in your own abilities.

Over the next few weeks we are going to look in more detail at the why, how and who of increasing wealth through property investment. In the meantime though, you can talk to the team at New Mills Properties on 01472 360178 and they will be happy to offer you guidance on how to get started.