Older homeowners have taken advantage of the rapid escalation of house prices to release more than £11.3m in property wealth a day during the first three months of the year. The average customer received £103,710 – a 25% increase over the £83,242 released in the first quarter of 2020 – highlighting how over-55s are confidently using their housing equity to support family and ease the pressure on income by managing debt. Total equity released (including drawdown and further advances) in the three months to March 31st increased by 12.8% to £1.07 billion from £950.59 million in the same period last year despite plan sales falling by 9.5% to 10,341 from 11,423. Read more on the Property Reporter website.
Surging
house prices see £1bn in property wealth released during Q1 | Property Reporter
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