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.

Load more comments
Thank you for the comment! Your comment must be approved first

"Great advice and support, would 100% use in the future."

- Andrew

"Great staff"

- Calem

"I'll particularly mention Yaseen (who arranged the viewing of the place, let me know about the availability of the place I was looking at, along with humouring many of my questions and doing a lot of the process paperwork for the tenancy)"

- William McKluskie

"I highly recommend their services to anyone in search of a reliable and customer-oriented agency."

- Spyros

"Renting my first property I was guided by Yaseen who was extremely helpful throughout the process."

- Aidan Barrigan

"Yaseen Hassan was incredibly helpful throughout the entire process"

- Tishawn Thams

"Clear and friendly communications for the full process"

- Nick

"Made my move from Essex to Liverpool so smooth great people to deal with"

- Jay