by Alan Steel

This month's Informing You has been held up a bit thanks to everybody being on holiday, me included. You'll be glad to know for a change I didn't go to Ibiza. I went elsewhere.

I think most of you will know by now I reckon we're getting to the top of the housing market, and I'm a bit worried about everybody wanting to buy energy stocks or funds too. I'm sorry if I keep bleating on about contrarianism, but the more you look at what works as an investment, and what doesn't, it becomes increasingly obvious you should be buying what nobody else wants - like technology shares for example.

I'm also a bit worried about the fact that everybody and their adviser can't wait to buy foreign property to put in their pension fund. If we've learned anything from the dot com boom and bust five years ago, it should be, when everybody's talking about something, and when newspapers are full of articles about the same thing, it's time for a sharp exit.

Anyway I went on holiday. But where was I? The typical summer weather's in the low 80s. It's a dry climate so the winters can be cold but not wet and damp. Petrol is only 45p a litre. Local wine is £3 a bottle. The cost of living is a lot lower than the UK, the language is English, and the property law is built around Scots law. There's 4600 miles of stunning coastline. It's like driving round every corner to find yet another Tayvallich. There are 85 golf courses, curling in the winter, lots of sailing all year, and it's on the same latitude as Bordeaux or Turin. You know something I reckon this could be a really good place to buy property before the herd arrives. Because unlike the UK or the Med or Florida, property is still cheap by anybody's standards.

Remarkably enough I'm talking about Nova Scotia. Within an hour and a half of Halifax Airport it's still possible to buy a six acre oceanfront property, a three bedroom bungalow, for under £55,000. Or how about a colonial mansion with four bedrooms and a decent scud of land, and views over Lunenburg Bay for £95,000?

And it's only five hours flight from Glasgow. Once you're there it's about an hour and a half flight on to New York or Montreal if you need the bigger city. It's worth a look, and it's beginning to interest Americans. Germans are starting to snoop around too, and they're no mugs when it comes to property.


Alan Steel
Alan Steel Asset Management Ltd is authorised and regulated by the Financial Conduct Authority

The Financial Conduct Authority does not regulate tax advice

This article is the personal view of Alan Steel. Please check the appropriateness to your individual position with your adviser before taking or refraining from any action.