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Pensioners’ properties worth more than £770bn

Pensioners’ properties worth more than £770bn

Research has shown that pensioners’ properties are worth up to £770 billion with 4.7 million individuals owning their property outright.

 

The average value of an unmortgaged property owned by a pensioner rose by almost £12,000 in London, but fell by £1,570 in the South-East, the survey found.

 

There were 366,000 homes owned outright by over-65s in London, compared with 656,000 in the South-East.

 

The total value rose by £1.2bn over the past three months.