More homeowners considering downsizing
Estate agents have reported an increase in the number of homeowners
who are showing interest in downsizing.
A report from Key Partnerships shows 44 per cent of estate agents
have seen a sharp rise in older homeowners looking to relocate to a
However, 62 per cent of estate agents reported potential downsizers
have wrong expectations about how much funds they will be able to
release by moving.
In particular, estate agents have raised concerns that there is a
shortage of suitable properties for downsizers on the
“When downsizing works it can be an ideal solution for
older homeowners but sellers need to be realistic about how much
they are going to make and it appears many are struggling to find
suitable homes,’ said Will Hale, director at Key
“The shortage of homes for sale is pushing up prices for
downsizers who may struggle to raise the sort of money they are
expecting to help with retirement planning while also having to go
through the upheaval of moving home,” he explained.
He added: “Estate agents who can offer equity release as a
potential alternative are able to benefit from an additional
revenue stream by referring potential clients to a