26 Oct

House values up 100-fold in 50 years

House values up 100-fold in 50 years

UK house prices have risen 100-fold since 1957, new data has revealed.
According to research from equity release provider Home & Capital, the average price of a UK property now stands at £200,000.

In 1957, the average price stood at £2,000.

Home & Capital estimates that those who have kept their property over the 50 year period now have close to £198,000 of equity.

Nigel Hare-Scott, sales director for Home & Capital, said that this development could provide a means for retirees to boost their income in their later years.

He said: "The typical over-60 owns a home worth £66,000 more than the average UK property and has a whopping £265,000 of equity. That gives lots of scope for equity release."

"Of course, most people have moved house more than once over that time, and trading up helps you build up even more equity."

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