When I started in financial planning back in 1995, the biggest obstacle I heard to investing was ‘I’m buying bricks and mortar, that’s my pension’.

This went away somewhat during the Global Financial Crisis of 2008, in part I think because of the difficulties of arranging mortgages, but also because the market became less attractive.

But over recent months we’ve seen a resurgence in property investing brought on partly by the stamp duty holiday. A good friend called this week to ask me, “Why do you always invest in stocks, don’t you ever consider the property market?”, to which I replied no.

There are logical reasons why I believe equities make better investments than property, but we don’t buy with logic, we buy with emotions, justifying our decisions with logic that will back up the choice we made.