The market for self-invested personal pensions is buoyant ahead of a change to the rules next April. Sipps are do-it-yourself pension wrappers that enable savers to invest in a range of assets, including property.

With so many people interested in property investment, there has been a huge increase in the number of people taking out Sipps. Standard Life estimates that around 16,000 new Sipps were opened last year and consequently the company has already raised more than £500m since it launched its first Sipp six months ago.