Wealthy investors stick to bricks and mortar

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NEW research reveals that wealthy investors are focusing on equities and bricks and mortar, at a time when they could reap benefits from having a more diverse strategy.

Research from Lloyds TSB Private Banking found that only 15 per cent of respondents in Yorkshire hold corporate bonds, while 18 per cent had Government bonds,

Excluding their main residence, 43 per cent of the wealthy Yorkshire investors surveyed had property investments, with average holdings of £369,445. Equities were also heavily favoured, with investors holding an average of £112,471 in stocks and shares.

Alan Flint, head of the north region at Lloyds TSB Private Banking, said: “Many investors are seeking potential returns by investing in equities, and while property is traditionally a more conservative play, it appears many wealthy Brits have increased their prime property allocation. However, it is important that people do not overexpose themselves to any one asset class in a way that may leave them vulnerable to potential market shocks.”

The findings are based on a YouGov survey of 1,399 UK adults, including 91 in Yorkshire, who had more than £250,000 in savings and investments.

n Less than a third of current house sellers have knocked some cash off their asking price, in a further sign that confidence is returning to the market, a property website said this week.

Some 31 per cent of homes on the market have had the asking price cut, marking the lowest proportion recorded in two-and-a-half years and a sharp drop from 37 per cent a year ago, Zoopla said.