Although already announced, the Chancellor confirmed that people will be allowed to put their pension pots in other investment opportunities rather than an annuity. This move will give the property sector a major boost. Many pensioners will look at the buy to let, or holiday property sectors, as an attractive place to put their hard earned money. A wise house purchase can offer a good rental return, as well as the possibility of long term capital growth. For the canny investor, there are opportunities in expanding university towns and cities, as well as booming holiday areas such as West Wales. Of equal importance will be the new “Help to Buy” ISA for first-time buyers, which will mean the government tops up by £50 every £200 saved for a deposit. More buyers in the market, particularly at the entry level, will encourage house builders to target this growth sector. It will also mean ‘second movers’, and ‘downsizers’ will be in a better position as there will be more activity in the market. Carol Peett, Managing Director, West Wales Property Finders Tel: 01834 862816 carol@westwalespropertyfinders.co.uk www.westwalespropertyfinders.co.uk
