For a lot of people there is good news on the property front. The industry in recent months has been focusing on the doom and gloom of repossessions although many homeowners are not doing too bad at all. This is due to the rise in property values and the rise in wealth over the last 20 years.
According to GE money repossessions are up however 26% of UK homes are owned outright. This compared to many other European countries is a staggering amount. According to GE money approximately 1 in 4 homes in the UK are mortgage free and are owned outright this equates to £1.33 trillion.

This money is in bricks and mortar so in the future we shall probably see a surge in equity release as people decide to take money out of their properties. There is also still a huge amount of people out there who do have equity within their properties. This amount of people is estimated at around £582bn in the UK. The South East will have the largest share of the property wealth, followed by London. The North East has one of the smallest cuts of wealth along with Wales. However there are a lot more outright homeowners in Wales than their is in London. More details please visit:-

This is a positive aspect of the UK property market which is well welcomed after all of the negative points and opinions that have been thrown at the sector over the recent months. There are still more people demanding a roof over their head than there are houses. We just need to ride this storm of uneasiness and not look for short term profits out of the market. Like any long term investment there are peaks and troughs.

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