More than £114bn has been added to the property wealth of the UK’s over-65 homeowners since the start of the year.
Over-65 homeowners typically saw their homes increase in value by £26,000 this year, Key Retirement’s Pensioner Property Index has revealed.
More than £114bn has been added to the property wealth of the UK’s over-65 homeowners since the start of the year.
Dean Mirfin, technical director at Key Retirement, said: “During a period of historically low interest rates and investment market volatility pensioners who have paid off their mortgages have been able to rely on steady tax-free returns from their home demonstrating the increasing importance of property to retirement planning.
“The equity release market is responding with new products and record low rates to enable more customers to make full use of their property investment and use their money for a wide range of purposes.”
Since Key started analysing over-65s housing wealth in it has increased by around 34%.
