UK''s ''obsession with property'' coming to an end

The "obsession" that people in the UK have with securing a mortgage and buying a property is slowly going to fizzle out.

That is according to IFG Financial Services, which has asserted that the number of people desperate to get on the property ladder will wane as a result of a lack of "cheap money".

Financial planning strategist Donna Bradshaw believes that as a result more people will start to put money into savings.

"We''ve had an obsession with property for some time because money has been very cheap, and I think people have become used to spending a lot and using their house as a high street bank. I think we''re going to see a shift back to saving.

"It tends to happen after you get a bit of a spending glut, and we may see a turnaround back to saving again."

Ms Bradshaw also advised investors to look at the property market in the long-term, rather than concentrate on how it is behaving in the current financial climate.