The Index, which tracks the amount
of equity held in the properties of people aged 65 and over in England and Wales,
discovered that over 40% of equity belongs to those living in London and the
South East.
The value of property equity belonging
to homeowners aged 65 and over fell by £7.7 billion between February 2008
and May 2008. However, Prudential says this decline in value is very recent
because between June 2007 and May 2008, the figure increased by £12.731
billion.
Between February 2008 and May 2008,
London was the only region in England and Wales to see an increase in property
equity values. The average homeowner aged over 65 in the South West saw the
value of equity they have in their home fall by £6,117, the highest decline
for any part of the UK. This was followed by £2,964 in the North East
and £2,645 in the South East. Homeowners in London saw the equity in their
homes increase by an average of £954.
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