Property wealth exceeds savings and pensions

69% of over-45 homeowners say that their home is worth more than their pensions, savings and investments combined, research by Aviva has found.

Important findings:

  • 46% see their property wealth as a key part of their retirement income
  • 23% are worried about paying off their loans
  • 33% do not think they will have paid off their loans by the time they reach retirement age
  • 56% think that their property wealth will be needed for care costs later on.

Clive Bolton, managing director of retirement solutions at Aviva UK Life, said:

“These findings suggest we are starting to see a shift in attitudes towards wider use of property to help fund retirement, as well as providing a place to live.

“Property assets more than match pension wealth for many older homeowners, so it is sensible to consider bricks and mortar among the options to supplement their savings.”

Property wealth and estate planning

Of those surveyed, 61% see the equity tied up in their homes as an important part of their inheritance planning.

Currently an individual is entitled to pass on £325,000 of wealth tax-free.

Another option for passing on property wealth is gifting the property to your husband, wife or civil partner.

It is possible to pass on any unused allowance to a spouse or civil partner.

Contact us about your property wealth today.