Property providing relief from stock market woes

Property, in particular housing, has been an important asset class during the past two years, offsetting losses accrued through falling equity markets, according to Standard Life Investments. Andrew Milligan, head of global strategy at the group, believes the equity bear market has, to some extent, been offset by the bull market in property. 'There is little doubt the decline in equities over the past couple of years has had a negative impact on wealth in the US and UK,' he says. 'But in terms of the outlook for consumer spending, it is important to put this into context.' Milli...