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Daily Insurance Industry News
Monday 21st of May 2018
March 2, 2010

Over 65s own property worth £765.18bn

by Richard Kilner

Story link: Over 65s own property worth £765.18bn

New research commissioned by independent equity release adviser Key Retirement Solutions has revealed that British pensioners have property wealth totalling circa £765.18bn.

The news comes as the housing market continues its hesitant recovery, and marks the launch of Key Retirement Solutions’ Pensioner Property Equity Index which intends to measure the property wealth of the over 65s every quarter.

Most property wealth is in the south east (£123.44bn) with London in second place (£122.65bn).

Business Development Director Dean Mirfin has stressed that the housing market was hard hit by the recent economic woe and emphasised the fragility of the recovery.

Mirfin went on to say that as many properties were purchased decades ago they nevertheless represent a phenomenal success in financial terms for the country’s pensioners, and offer a potential income unaffected by low interest rates which are making savings accounts less attractive.

 

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