How confident are you that your hard earned savings will grow this year if they’re ploughed into bricks and mortar? A recent poll has found that shares have just pipped property at the post when it comes to the investment class that respondents expect to bring in the best profits this year.
The online poll, conducted by Loan Market, asked 823 respondents ‘which investment sector do you believe will be the most profitable over the coming year?’ and found that 33% tipped shares to be the year’s best performer, while 31% opted for residential property.
Gen Y respondents, however, tipped property to outperform shares this year, with 31% choosing residential property and only 27% opting for shares.
“Australians have modest expectations for the economy,” said Loan Market corporate spokesman Paul Smith.
“With savings being a particular priority for many Australians and caution being applied to nearly every financial decision, shares and property investment hold the most attractive risk/reward balance.”
Interestingly, the next most popular choice was to ‘put money under the mattress’ (17%), which reflects a mood of economic uncertainty, said Smith, who noted that it was “alarming” that almost one in five respondents believe the best place to invest their money is under the mattress.
“There a lot of uncertainty about the economy despite Australia so far avoiding the debt crisis that has plagued Europe,” he added.
The results:
Which investment sector do you believe will be the most profitable over the coming year?
- Shares: 33%
- Commercial property: 9%
- Residential property: 31%
- Cash/Savings: 10%
- Put money under the mattress: 17%
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