All the information you need for equity release in Yorkshire
In this 2023 market report, we review how property prices over the last ten years have fuelled a 26% growth in the northern and Yorkshire equity release market. We’ll also take a closer look at the impact of rising property prices – and how much more tax-free cash you may now be able to release if you’re a homeowner in Yorkshire.
The figures are in for the equity release market’s performance in 2022 and they reveal the industry has fared especially well. Its continued growth last year saw a record-breaking 93,421 new and returning customers unlock £6.2billion of their property wealth, according to Equity Release Council figures.
Record average house prices achieved in recent months is no doubt a contributing factor. In the last three years alone, homeowners in Yorkshire have enjoyed a staggering 25% increase to their average house price. It means thousands of homeowners across the county 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 Yorkshire, including:
- What is involved in equity release?
- Average Yorkshire house value rises £85k in ten years.
- What does the house price boom mean for Yorkshire equity release potential?
- Growth in the Yorkshire equity release market.
- Do Yorkshire Bank offer equity release?
- Will slowing property prices affect the Yorkshire equity release market?
- Find out more about Yorkshire equity release.