Releasing equity in Marylebone: Why is it so popular?
Many people can find themselves in their retirement years cash-poor and asset-rich. Located just minutes away from Oxford Street, Marylebone is a charming urban village that offers peaceful gardens, a bustling high street with plenty of boutiques, restaurants and cafes, and beautiful architecture. The area attracts a mix of residents including celebrities, politicians, and professionals. Home to the Royal Academy of Music and the Sylvia Young Theatre School, it is popular with creative types. Previous residents included John Lennon, Paul McCartney, Madonna, and T.S Eliot.
Many people who have bought a property in Marylebone some time ago may not realise quite the speed at which their property has grown in value. According to Rightmove in 2020, the average property price was over £1.7million. The majority of property sales were flats that sold for an average of just over £1.4million. Terraces sold for £3.6million. In 2020, prices were down 2 per cent on the previous year.
Do you have a Marylebone property? See how much money you could raise with our equity release calculator.