Many UK home-owning pensioners will want
to hear this good news.
According to data provided by the Equity Release Council, Great Britain
homeowners who have owned their house for an average of 23 years have seen
their overall home value grow by £159,129, or £6,918 a year. And the news gets
even better, depending on where you live:
The average London pensioner has seen their home equity make gains of
nearly £14,257 annually, more than double that of the national average.
Anglia: The average home saw an average annual gain of
£11,467 or about £206,415 in the past 18 years.
East: Homes in this region fell close behind East
Anglia, growing by nearly £11,080 in equity gains over a 21 year period.
Good News For
Whilst the Equity Release Council’s data is good no matter your age, those
older than 65 years may benefit most from the continued year-over-year growth.
Most pensioners — usually asset-rich but cash-poor — can use the equity on
their homes to boost their retirement income, and many do. The Council reports
that in the first quarter of 2018, pensioners withdrew nearly £10m of property
wealth each day. That’s more than double the amount withdrawn in the same
period in 2016.
Property Ownership Gives Pensioners — And Others — Options
No matter your current age, property ownership can give you financial leverage
and a potential stream of income for years to come. Whether you’re a young
person looking to buy cheap homes for sale to purchase as an asset, or you’re a
pensioner looking to earn additional income through an equity release on your
home or by selling your house for a profit, online property sell websites offer
a way to earn additional income.
Doorsteps property agents are available to walk you through the process of
selling your home with an online estate agent.