A Labour MP who has in the past been fiercely critical of estate and lettings agents now says that property is better than pensions for retirement.
Stella Creasy, Labour MP for Walthamstow, has in the past presented headline-grabbing awards to agents who have supposedly been the ‘best’ and ‘worst’ in her constituency - although on that occasion the same agency won both accolades.
In the past she used her role on the old Labour opposition front bench to criticise the use of ‘introductory fees’ being levied by estate agents in some sales hot spots.
“How can you be acting in the interest of the seller if you are also making money from the buyer? This practice to me looks unfair. The behaviour of estate agents doing this needs to be challenged” she said at the time.
She was also involved in a number of Twitter-spats with Eric Walker, the managing director of Northwood UK.
However, now in the Sunday Times Creasy reveals her views on a range of personal finance issues as they affect her.
After saying how she owns a house with her partner, she’s asked what is better for retirement - property or a pension?
She responds: “Property - the artificial inflation in house prices makes it so. I have had a workplace pension since my 20s. I think there’s a real challenge for us to get pensions right in this country as pensioner poverty is a massive issue.”
Elsewhere in the article she says her home has been her best investment but also says she finds it “insane” how much property prices have risen in her Walthamstow constituency.