Almost £730 billion of equity is available in British homes - a record figure.
The sum, assessed during the second quarter of 2021, is an increase of almost £80 billion when compared to the previous quarter according to analysis by Canada Life.
The figures are based on the latest Halifax quarterly regional house price index.
The average price of a property in the South East is now £353,000 and so creating £140 billion of equity for the region, the largest available equity by region in Britain.
This was closely followed by London which now has £136 billion of equity.
Homeowners in the North East and Yorkshire have the least amount of equity available, with £53,546 and £64,830 per household respectively on average.
Alice Watson, head of marketing in the insurance division of Canada Life, says: “House prices have risen dramatically over the last year which has naturally led to more equity being available across the country. As a result, property wealth is increasingly being used as another element of retirement income, alongside existing savings.”
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