According to UK Finance, following around nine years of uninterrupted house price growth, half of all mortgaged homeowners have at least 50% equity in their home and a further third have between 25 and 50%. In London and the southern regions, up to 60% of borrowers own at least half of their home’s equity.
These equity stakes are worth a lot of money, nationally one in five borrowers have more than £250,000 of equity which is around the total price of the average UK home.
In the South-East more than half of borrowers have more than £250,000 of equity tied up in their homes and in London, one in five borrowers have more than £500,000 of equity in their homes, equivalent to the cost of the average price of two homes across the UK.
To see how much equity you have in your home, register your home on Twindig, log in and head to the analysis tab to use our housing equity calculator.
The growth in popularity and acceptance of working from home is leading to a shift in people's perceptions of where they need to live. As we are increasingly less tied to a specific workplace, many are looking to move away from urban to more rural areas to bigger homes more suitable for working from home and to homes with more outside space.
This shift from urban to rural is an important one, as over time it is likely to reduce some of the regional disparities of house prices. For those lucky enough to have a foot on the housing ladder this migration may indirectly help the 'levelling up process' and reduce some of the inequalities in housing wealth across the UK.
