Britons see property as safer than cash

Many Brits are opting to buy property rather than placing their money in a bank due to concerns over the safety of bank savings.

A poll, conducted by the BBC2 series The Truth About Property, found that just over half of respondents saw buying property as a safer bet then leaving money in a savings deposit.

The BBC reports how the poll took place soon after the Northern Rock crisis and may have contributed to the feelings of insecurity in the banking system despite speculation of a slowdown in the housing market.

The respondents' belief that property is a safer investment comes in stark contrast to the views given by investment professionals.

Many experts have stated that cash is safer than property because banks largely remain solvent and so there is little risk compared to the fluctuations that can occur in the housing market.

Meanwhile, the Association of Investment Companies has found that two-thirds of Britons think house prices will continue to rise despite signs of a slowdown, according to the Guardian.

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