Household wealth in the UK increased by just 18 per cent in the noughties, compared to a rise of 108 per cent in the 1980s, according to new a new report.
The figure could tempt a number of homeowners to seek equity release advice to find out how the value of their property could provide them with a regular income or lump sum cash boost.
Figures from a recent report by the Halifax bank have revealed that between 1959 and 2009 UK household wealth has increased five fold.
However, that figure is boosted by a growth of 108 per cent in the 1980s and the last decade only saw an increase of 18 per cent.
Nitesh Patel, economist at Halifax, said: "The financial position of UK households has weakened since 2007 as a result of deteriorating economic activity and reduced house and share prices.
"Nevertheless, much of this was recouped in 2009 as both house and equity prices recovered somewhat and notably household wealth has still risen over the past decade."
Homeowners who are concerned about their income levels can find out how their property could boost their finances by using the equity release calculator provided by Key Retirement Solutions.
Posted by Tom Papworth
