House prices rise, good for equity release

Posted in General

14th May 2010

People with home reversion plans or a lifetime mortgage have received a boost as Communities and Local Government confirmed an increase in housing prices.

This equity release news will be welcomed as it means that homeowners will be able to withdraw more of the value of their house.

UK house prices rose nearly 10 per cent (9.7 per cent) between March last year and March this year, meaning that the average house price in Britain stood at over £205,000 (£205,598) in March 2010.

As is often the case, prices in London and the south east grew the quickest, with above-average rises of over 15 per cent (15.6 per cent) and 11 per cent (11.3 per cent) respectively.

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