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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 mostly cloudy start with scattered showers, the showers becoming more isolated and largely confined to the south this morning. Becoming brighter this afternoon, the best of any sunnier spells across northern counties. Northerly winds easing. Maximum temperature 12 °C.Tonight:A dry evening with late sunny spells and some long clear spells overnight. Becoming cloudier across the north towards dawn with a few showers possible. Touch of frost in south. Minimum temperature 0 °C.
