The value of their properties has increased by £1,120 in the past three months alone – with London retirees enjoying a near £10,000 boost, the Mail on Sunday reports.
Key Retirement says homeowners aged 65 or over have seen a total of £5.3bn added to their homes’ value since April.
Overall, pensioners live in homes worth nearly £775bn.
As many as 20,000 will tap into their homes’ value this year through equity release, while greater numbers will free up cash by moving to a cheaper home.
Dean Mirfin, group director, says: “Many feel relieved that they have the potential to unlock some of the gains through equity release or downsizing.”
Last week, the Office for National Statistics found that around 57% of the nation’s wealth is wrapped up in homes, totalling £4.4trn at the end of last year – an increase of 4% on a year earlier.
But the figures also highlight the scale of the property boom since the 1990s. The value of property in Britain today is four times what it was in 1992 when the UK’s overall property wealth was £1.2trn.
