Retiree housing wealth rises 1.4% to over £370bn
Total housing wealth available to over-55s in the UK through equity release rose to over £372 billion in the second quarter of 2017, Retirement Advantage data shows.
"It is nationwide, too; far from being confined to London and the South East, the biggest growth in the last quarter has come from outside these regions."
The figure amounts to a 1.4% quarterly increase nationally, with significant rises in the East Midlands (+1%), Scotland (+0.7%) and the North of England (+0.7%).
Alice Watson, Head of Marketing at Retirement Advantage Equity Release, said: “Despite some concerns about economic uncertainty slowing the housing market down, the fact is that property wealth levels across the UK remain substantial. Against the backdrop of Brexit concerns, it is encouraging to see a growth in potential property wealth available to over-55s through equity release. It is nationwide, too; far from being confined to London and the South East, the biggest growth in the last quarter has come from outside these regions.
“We know from our customers that equity release is valued for a number of reasons and as recent industry figures prove, more people are factoring property wealth into the retirement planning process."
