Retired Property Owners Witness Equity Growths
Retired homeowners have got a lot to shout about this month, after it was discovered that equity in their homes had risen for the fourth consecutive month in a row.
During a study performed by retirement specialists Key Retirement Solutions, they found that between January and May of this year retired property owners witnessed property prices increases of up to £2 billion.
Similarly, property owners over 65 years old saw a collective equity growth in their properties of £765 billion with values rising from £1.88 billion in January to £767 billion last month.
Yet, not all property locations appear to have had the same good news. Whilst 6 regions across the UK saw promising property price increases, a further 5 continued to watch their properties fall in value.
These included:
- Scotland who saw the biggest drop of 7.8% in their equity values over the last 4 months, falling on average by £12,249 per property. Other property locations to witness similar drops include the West Midlands, Wales, Yorkshire and Humberside, and the South East
- The North East who witnessed the largest equity increase of 4.6% (£5,000 per property). They were quickly accompanied by the North West who saw total rises of 1.8% (£2,152)
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