RETIRED homeowners are losing out from housing market volatility, according to research published yesterday by Key Retirement Solutions (KRS).
Over-65s own an estimated £749.45bn worth of property outright, and lost £7.185bn in the last three months as the housing market stalled – equivalent to £1,236 each.
The market’s continuing poor performance means pensioners are down £25bn since September 2010.
Those in London and the south east have been worst hit, losing an average of £5,937, while homeowners in Wales, the north east and the west Midlands have seen gains in property values.
“Losses in the past three months show the recovery is still a long way off,” said KRS’s Dean Mirfin.
“People are starting to realise that waiting for recovery is not a viable strategy when considering equity release.”
