A focus on housing appears to be crowding out retirement in people's savings plans, according to the latest AMP SuperWatch survey.
Tuesday, December 9th 2003, 6:59AM
by The Landlord
While other savings categories have remained fairly constant, the number of people saving for a home purchase has increased by 70% since January this year, from 10% to 17%. People aged 25-34 are even more likely to be saving for a house deposit, with 35% saying they are currently doing so.
Despite the increase in the numbers saving for a deposit, there has been no increase in the proportion of people saving to pay off their house, says AMP managing director Ross Kent.
