Our doors may be closed, but we’re still here for you. In line with government advice on the outbreak of Coronavirus (COVID-19), all our Martin & Co branches will be temporarily closed until further notice. The health and safety of our staff and customers is, of course, our number one priority. But while we might not be able to see you, we are still here if you need us. The Martin & Co teams are all working remotely, ensuring we can provide continuous support for all our customers. Please email your nearest branch directly through the website and, most importantly, stay safe and healthy during these difficult times

Over-65s enjoy vast property wealth, especially in London and the south

Over-65s enjoy vast property wealth, especially in London and the south

Homeowners aged 65 and above have seen their property wealth grow by nearly £17.5 billion in the past three months alone according to financial consultancy Key Retirement.

In the five years since the firm began monitoring the housing wealth of the over-65s, in January 2010, total pensioner property wealth has increased by 14 per cent or £111 billion which equates to £23,700 on average for every homeowner.

Retired homeowners in London were the biggest winners gaining an average of around £14,238 each in the past three months as average house prices have continued to rise, while older home owners in the south east of England are more than £8,290 better off and pensioners in East Anglia are £8,524 better off.

Nearly two thirds of the entire UK's pensioner property equity is concentrated in London, the south east, the south west and East Anglia.

“Over-65 homeowners control more than £891 billion in assets" says a spokesman for Key Retirement.

Article courtesy of Estate Agent Today | Sign up for Estate Agent Today newsletter | Get this news on YOUR site!