What are British people investing in in 2024?
Photo by Burak The Weekender
Investments are a tried and tested way to generate wealth over time – with all the associated risk involved – but is Britain giving investing a miss this year? Indeed, seeing as only 1 in 4 Brits even care if there’s a bank they can visit nearby, many may believe it’s safe to assume that British people don’t pay much attention to their financial future.
It’s important to note that investment rates in the UK have fallen over the past few years. But in 2024, are British people simply being selective about what they’re investing in? Let’s take a look at the stats below.
ISAs
Almost everyone has an ISA of some kind, which makes it one of the most popular investments in the UK as a whole. From those just opening up their first bank accounts to people nearing retirement age, an ISA is a safe place to keep your money, for both easy access and a reliably consistent interest rate.
Of course, the most basic of cash ISAs won’t have the latter, but a Stocks and Shares ISA can be held at the same time and both can be paid into at once. These savings will also be tax free up to a person’s annual limit, which makes an ISA of any kind fairly easy to use and understand as well.
Real estate
Real estate is one of the strongest investments, and even with the ups and downs in the housing markets, there’s still inherent value to be found in a property. Even so-called ‘fixer-uppers’ can be sold for a pretty penny to the right buyer, which cannot be said for many other types of investments.
As such, focusing on real estate investment when you have the budget to do so is a great way to increase your return. Not to mention you’re able to transfer property on death deed to your children when the time comes, meaning the investment can continue to be useful for generations to come.
Demand for real estate is higher than ever, and since Brexit, it’s been found that most second home owners have mostly stuck to UK borders. There’s more activity in the market, and a bigger need than ever for first homes, making it a good place for Brits to invest in 2024.
Stocks and shares
When it comes to investing money, the stock market has long been the first port of call. It’s easy to understand why; there’s a lot of stock out there and shares can be bought at a fairly affordable price each.
Plus, the more you invest in different stocks, the more stable your portfolio may even end up being. And in the UK, these are a fairly popular form of investment. Around 30% of people are said to have invested in stocks and shares, according to the latest data from 2023.
Investing in the UK has taken on a new landscape, although opinions on investment will long remain different according to those you ask.
