Significant gains for homeowners over 20 years

Analysis reveals¹ that UK homeowners who purchased their properties in the last 20 years have seen an average increase of £80,000 in value. In comparison, those who sold within the last year made an average gain of £65,000. Homes in high-value areas and commuter towns, including the Cotswolds and Richmond upon Thames, experienced the largest gains, with 80% of properties increasing by over £65,000. Outside London, the South East had the highest proportion (70%) of homes appreciating by this amount. 

One in five UK residents suffer storm damage 

Storms and flooding are having devastating effects on residents across the UK, with two in five homes impacted by some form of extreme weather in the past five years. New research² shows that more than a fifth of UK homes suffered storm damage between 2020 and 2024. Some 12% experienced flooding in the same period. Faced with this growing threat, getting the right home insurance to protect your property and peace of mind is more crucial than ever. 

Equity Release continues growth trend 

Data from the Equity Release Council (ERC)³ has shown the sector had two consecutive growth quarters to September 2024. In Q3 alone, a total of £615m of property wealth was withdrawn by homeowners over the age of 50, representing a 6% increase quarter-on-quarter. A modest increase in typical loan size was noted, with new lump sum lifetime mortgage clients taking out £111,618 on average. Chair of the ERC, David Burrowes commented on the data, “Returning growth may have been modest to date, but it’s particularly encouraging to see the trend continue.” 

¹Zoopla, ²Aviva, ³ERC, 2024 

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments. Think carefully before securing other debts against your home. Equity released from your home will be secured against it. 

Don’t invest under the ‘finfluence’ 

People are increasingly seeking financial guidance on social media. While financial influencers – or ‘finfluencers’ – can be useful in raising awareness around financial matters, there is also a darker side to the growth of unregulated advisers. 

Social media age 

In the UK, more than one in four people use some combination of social media, community messaging apps and online forums for investment guidance, research¹ shows. Of those who get their investment advice from social media, one in five cited ‘free access to financial experts’ as a reason. Meanwhile, one in four pointed to the fact it was ‘quick and easy to use’ as justification. 

Not all advice is equal  

Entrusting your financial decisions to social media, however, comes with risks. One significant danger is that many people are failing to carry out checks on the advice they see online. Specifically, the same study found that more than half of UK adults who use social media for investment guidance do not carry out checks to verify the reliability of ‘finfluencers’ and their content. Young people are especially vulnerable, with increasing numbers falling victim to scams, with finfluencers often involved. 

FCA crackdown 

The FCA has interviewed 20 finfluencers who may be illegally selling financial services products; the FCA has also issued 38 alerts against social media accounts operated by finfluencers which may contain unlawful promotions. In many instances, these influencers are not FCA-authorised and don’t have the qualifications to give financial advice. 

Despite the fact anyone can pose as an expert online, fewer than half of those using ‘finfluencers’ always check that the information comes from a reliable source. Social media has its advantages, but making sure the advice comes from an accredited professional is the best way to steer clear of unsuitable investment advice and scams. 

¹Barclays, 2024 

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.

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