Equity release customers told 'UK property over-valued' | Ashall Glover Equity Release

Equity release customers told 'UK property over-valued' | Ashall Glover Equity Release


Many Brits believe that the prices of property in the UK are over-valued, those seeking out equity release loans may be interested to hear.

According to a survey conducted by Rightmove, 48 per cent of individuals noted that, in their opinion, prices for homes in their area are at a higher level than need be.

First-time buyers agree with this even more so, with 66 per cent of this group picking up on over-valued properties within their location of living.


However, despite these concerns, just 25 per cent of respondents expect house prices to drop over the next year. This is a decrease of the 32 per cent who thought the same in the first quarter of 2011.

Miles Shipside, director of Rightmove, commented: "We now have a situation where half of the UK public feel house prices are too high, yet three-quarters of the same public are expecting prices to either stay the same or increase over the next 12 months."

Pensioners who are able to buy a home during these times have been encouraged by Clive Bolton, a retirement director for Aviva, to consider equity release loans, as the home is "often their largest asset".