£7k earner in OAPs’ homes

PENSIONERS have gained £7,000 annually on their home in the average 23 years they have owned it, a report found.

In London, the gains top £14,000 over 27 years.

Property wealth owned by over-65s who have paid off their mortgages is near a record high of £1.09trillion, the Key Retirement study found.

Dean Mirfin, Key’s Chief Product Officer, said the figures showed the “longterm strength of the housing market”.