Interest rates hit confidence in property

The insurer says the January instalment of its ‘Savings & Investment Index’ shows a fall in confidence in both people’s own homes and buy-to-let property as an investment category. Confidence in people’s own homes as a savings vehicle for their financial future has fallen by just over 19% since October 2006, from an index score of 62 to 50, while buy to let has slipped from 41 to 30, which is a drop of almost 27%. As a result Standard Life says the overall score of the quarterly index has fallen for the first time since research began in July 2005, from 23 in October to 21 in January,...