Over 55 home loans in Peterborough: What is the property market doing?
We know that releasing equity in Peterborough is a big decision and that the decision to release equity can be personal. We can meet you at your home or via video call and will run through all of your options and help you decide which could be right for you we also have access to residential mortgages and retirement interest-only mortgages.
In the property market, growth has outstripped inflation and alongside an ageing population, this has made equity release an increasingly popular choice for people wishing to get the most out of their requirements. The average house price in 1980 was £23,000 and in 2020, the figure rose to over £252,000. Whilst wages have gone up, it is not at the same levels.
Peterborough has long attracted families and individuals looking for affordable homes, great schools, and fantastic facilities.
Property site Rightmove states that in 2021 the majority of property sales in 2021 were detached homes that fetched an average of just over £332,000. Terraces sold for an average of £171,000, with semi-detached homes fetching over £217,000. The average property price stood at just over £234,000 and overall prices were up 13 per cent from their 2019 peak.
Find out how much money you could raise by using our equity release calculator.