£208bn now invested in Isas

Published:
20 October 2008
Topic:
News,Money,Savings

A third of UK households now have a total of £207.8 billion invested in Isas, up from the £28.6 billion saved in the year they were first introduced.

The number of individual investors is now nearly 15 million, compared with 9.3 million in 1999/2000, and the amount invested this year alone is approaching £36 billion.

But on an individual level, savings rates have actually fallen, with people paying in an average of only £2,426 into Isas during the past year, compared with £3,064 in 1999/2000.

People are also increasingly likely to use their Isa allowance to hold money in cash - 61% of all deposits last year - rather than to invest in shares.

The value of cash Isas has soared 10-fold since their launch to £127.7 billion, while money in stocks and shares Isas has seen only a five-fold increase to £80.1 billion.

Men are slightly more likely to use Isas than women, although the number of female Isa savers has increased at a faster rate, rising by 46% between 1999/2000 and 2005/2006.

People in the South East are most likely to have an Isa, while those in Northern Ireland are the least likely.

Copyright © PA Business 2008

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