The firm said that by 2029, there will be 15.1m people over the age of 65, a 50% increase in the number of pensioners today. By 2029, this group will sit on housing equity worth £1.5trn, an increase of 88% on the current level of £800bn.
The firm said that as these over 65s prepare for retirement, they will find finances much tighter due to pensions becoming more dependent on uncertain investment outcomes and the official retirement age rising which will force people to work longer before being entitled to a state pension.
Graeme Marshall, chief executive of Sovereign Reversions, said that for many, the value of their home will be the most obvious source of cash to support their income in retirement.
He said: “There will be no alternative to ensure pensioners have can enjoy a reasonable living standard in their old age.”
Sovereign Reversions used Office of National Statistics data on pensioner households and housing tenure and Department of Communities and Local Government (DCLG) data on house prices in its study.
