Blog Post

Downsizing? How to spend your equity

TomS - Head Tom Simper Jul 17, 2023, 10:00 AM

Over 8.1 million owner occupiers in England and Wales now own their homes outright. This constitutes 52% of owner occupiers, rising to over 90% of those aged 65 or more.

Based on sales price data from the Land Registry, downsizing from a 4 or more bedroom home to a 2-bedroom apartment could release, on average, over £250,000. The amount varies by region.

While freeing up under-occupied homes would help ease some of the housing stock issues in the market, downsizers will also reduce their ongoing costs and in many cases would be left with a large pot of equity.

Such equity could be used to launch children onto the housing ladder, to purchase an investment property or a holiday home, take a holiday of a lifetime or boost the pension pot. Independent financial advice should always be sought. Source: #Dataloft, Land Registry, MHCLG, based on sales in last 12 months, ONS, UK Finance.

Leave a comment
Newest on top Oldest on top
Load more comments
Thank you for the comment! Your comment must be approved first
comment-avatar

"Abbey was very polite, helpful and informative, very professional."

- Robert

"Very helpful and proper guidance on time"

- Shine Xavier

"Letting through Peter Anthony has been a great experience"

- Gus Beech

"Would highly recommend Peter Anthony when selling your property."

- Gwen

"Yaseen has been fantastic very helpful and good communication all the way through"

- Kate Dawson

"A great company and great experience."

- Andrew

"I deeply appreciate Peter Anthony Estate, especially Abbey, who works here."

- Delar

"nothing written"

- Nadeeka Edirisinghalage