Close to four in ten current Sipp investors would look to use their Sipp for property purchase, following new pension rules post A-Day, research indicates.
Hargreaves Lansdown says with the current Sipp market consisting of about 140,000 contracts, this would result in 51,800 Sipp property purchases and would boost the UK housing market by 5%. The investment broker calculates the 51,800 property purchases valued at an average of £195,000, would increase property demand by £10bn. The research also finds 85% of respondents intend to buy property in mainland UK. And eight in ten Sipp property investors plan to invest in a buy-to-let, while 42% will invest in a holiday home, with 14% intending to put their main residence into a Sipp. Spain, a...
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