UK residential property has soared in value
by almost 200 per cent over the past decade, new research has indicated.
The asset class has been the second best-performing
over the past ten years, with an increase in value of 198 per cent, according to Lloyds TSB. The group said that precious metals were the top asset, with values jumping by 365 per cent over the same period.
It is the fourth time in the past five years that precious metals have topped the tables for the best asset class, with uncertainty over the future of the global economy caused investors to flock to gold, silver and platinum.
However, in terms of returns gained in 2010, residential property only offered a gain 1.2 per cent. UK shares and commercial property both returned 14.5 per cent, while the value of international shares increased by 10.6 per cent.
Suren Thiru, economist at Lloyds TSB, said: "Going forward, the level of demand from emerging economies, particularly from China and India, is likely to remain an important determinant of many assets prices as well as the pace at which the global economic recovery continues."
- Wednesday 09 March 2011