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Head of UK wholesale distribution at Barings Rod Aldridge described these results as worrying, saying how concerning it was that the number of Britons who were going to be exclusively relying on property to fund their retirement had climbed once again.

“This year’s research indicates that more people are investing in property as a retirement source and this could mean they are too concentrated in the asset class. Property prices can be volatile so relying on your home to provide all your income to fund retirement is risky,” he remarked.

Mr Aldridge made further comments, noting that anyone considering this as a route to a secure retirement needs to understand and appreciate the levels of risk involved with the use of their own home or a buy-to-let property as a long-term plan. He recommended that people diversify any investments through a number of different assets in order to plan properly for their twilight years.