With over-60s collectively hold approximately £3tn in property wealth, online searches for ‘equity release’ have unexpectedly declined, analysis by Sell House Fast has revealed.
According to recent search trends, there were just over 22,000 searches for the term in the past month – an 18% decrease compared to the same period last year.
In stark contrast, interest in ‘cash house buyers’ has surged dramatically.
Over the past three months, searches have jumped by 233%, and year-on-year, they’ve skyrocketed by 515%.
This trend suggests a shifting preference among homeowners – particularly older ones – towards faster and more straightforward ways of accessing property wealth.
Jack Malnick, managing director of Sell House Fast, said the recent spotlight on the housing wealth held by older generations is highlighting deeper issues within the property market.
He said: “The recent spotlight on the £3tn in property wealth held by over-60s exposes two key issues: a widening generational wealth gap and sharp regional imbalances.
“Also absent from conversations is the truth that a significant proportion of older homeowners are asset-rich but cash-poor, sitting on high-value homes yet struggling with rising living costs, modest pensions, and ongoing upkeep.”
He added that equity release, often marketed as a lifeline for older homeowners, comes with considerable risks.
He said: “Equity release has long been sold as a lifeline for this demographic, offering access to property wealth without moving out.
“But it’s not without drawbacks: compound interest, early repayment charges, and limited flexibility can significantly reduce what’s left for loved ones.
“Many also feel uneasy knowing their family home may be heavily mortgaged in their final years.”
Current generational data supports Malnick’s concerns. While Baby Boomers (ages 60 to 79) hold £2.95tn in property wealth – accounting for 56% of the UK’s total housing wealth – younger generations face a starkly different reality.
Millennials (ages 27 to 44), for example, collectively own just £1.56tn and hold only 6% of housing wealth, with approximately half owning a home – often only with family assistance or government schemes.
Gen Z (ages 18 to 26), meanwhile, faces significant affordability challenges, with an estimated homeownership rate of just 1.1%.
Malnick notes the growing popularity of quick-sale alternatives as a natural response to these conditions.
He added: “It’s no surprise, then, that we’ve seen a surge in searches for ‘cash house buyer’.
“More older homeowners – and their families – are looking for fast, no-fuss ways to unlock equity without the long-term cost or complexity of equity release.
“A straightforward cash sale offers speed, certainty, and control, often completing in weeks and with reputable buyers covering legal fees and avoiding estate agent costs.
“Whilst offers are typically below market value, and due diligence is key to ensure you’re working with a legitimate service, for those needing speed and simplicity, it’s a compelling option.”
Looking ahead, Malnick said there is potential in the so-called ‘great wealth transfer’ to rebalance the market.
He concluded: “Inheritance may finally help rebalance regional property inequality.
“Millennials are less likely to return to family homes in high-value southern areas – instead, they’re selling and reinvesting in places they’ve settled for work or affordability, such as the Midlands or North West.
“This shift could help redistribute wealth more evenly across the UK housing market.”
