UK Home Equity Rises by £2bn

A recent research performed by Key Retirement Solutions –UK equity release company – showed that the value of property owned by British pensioners has risen by almost £2 billion since the beginning of 2010.

As such, the overall value of homes owned by people aged 65+ reached £767 billion last month, which compares to £765.12 billion in January.

This rise in property value, however, is seriously impacted by the location. The research showed that while the overall tendency is upwards, pensioners in 5 of 11 UK regions have faced decreases in the value of their homes. Those owning properties in Scotland, Wales, Yorkshire, West Midlands and Humberside have seen their property value fall.

The most significant increases in the value of homes have been registered in the North East and the North West of England (4.6% and 1.8% accordingly).

Commenting on the findings, Mr. Mirfin of Key Retirement Solutions said that UK pensioners owning property in the UK have a great opportunity for raising additional income, especially as other sources (savings, annuity, etc.) seem to be in decay.