Our latest report on equity release in Manchester
We explore how property prices over the last decade have helped to fuel a 38% growth in Manchester and the North West’s equity release market. We also take a look at the impact of rising property prices, including how much more tax-free cash the average Mancunian could unlock from their property.
The equity release industry enjoyed continued growth last year. A record-breaking 93,421 new and returning customers chose to release £6.2billion of their property wealth, according to Equity Release Council figures.
The record average house price reached in the UK towards the end of 2022 was no doubt a contributing factor. In fact, in the last five years alone, homeowners in Greater Manchester have enjoyed a 37% increase to their average house price. It means thousands of homeowners across the region are likely to have significantly more equity in their properties than when they purchased them.
In this article we’ll explore the latest trends for equity release in Manchester, including:
- What is involved in equity release?
- Average Manchester house value rises £85k in ten years.
- What does the house price boom mean for Manchester equity release potential?
- Growth in the Manchester equity release market.
- Does Manchester Building Society offer equity release?
- Will slowing property prices affect the Manchester equity release market?
- Find out more about Manchester equity release.