Elderly Brits upbeat over property prices

Posted 2007-10-10

A financial services provider has conducted a survey of over-50s Saga and reports the majority of Brits in the age group are feeling positive over current property prices.

Homeownership is cited as the leading cause of the trend, with the accessibility of secured home loans as the primary contributing factor.

“Baby-boomers have never had it so good, particularly with their finances, thanks to soaring property prices. This study clearly shows that they are also the most relaxed and dispels the view that many have a mid-life crisis when they reach their 50s,” stated Chief Executive, Andrew Goodsell.

Additionally, roughly 70% of individuals over the age of 50 told the researches that they believe there is far more pressure on the younger generation to buy a house – especially as compared to twenty years ago.

With figures from Credit Action showing the proportion of lending secured against property as having increased in the 12 months leading to 2006, home loans clearly remain the primary avenue for boosting finances for many homeowners – and the trend is expected to continue from 2007 through 2008.

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