| A dressing room can boost your home’s value by up to £40,000 | Over 65’s hold £2.9trn in mortgage-free property wealth in the UK | House purchases now take 124 days on average – 41% longer than expected |
Dressing rooms – the new must-have
Once seen as a luxury, dressing rooms are gaining popularity among everyday homeowners inspired by celebrities and influencers. Offering convenience and a hotel-like aesthetic, they’re becoming a sought-after feature that could boost your property’s value by up to £40,0001. Though converting a bedroom may seem wasteful, buyers now prioritise space and features over bedroom count. Experts say a stylish dressing room can make a home stand out in today’s competitive market.
Property wealth held by over 65s reaches £2.9trn
Recent research2 has revealed that more than 10 million over 65s own their homes outright, bringing property wealth owned by this age group to over £2.9trn. Around 37% of this wealth is in London and the South East. Will Hale, from Key commented, “Over 65s have considerable wealth tied up in their homes and are literally sitting on money that could give them a more comfortable or fulfilling retirement. Alternatively, this wealth could be used to provide a living inheritance and offer family members cash at a point in their lives when they need it most, for example when children or grandchildren are looking to get on the housing ladder.” Unlocking home equity is one way to boost retirement funds or help support younger generations with property deposits. Equity release isn’t suitable for everyone, it is important to take specialist advice.
Delays in house sales
The house buying process is reported to be taking 41% longer than anticipated3. Buyers expect to exchange contracts in 88 days, but it takes 124 days on average. In England and Wales, exchanges take 38 days longer than believed, and in Scotland, 32 days longer. The report concludes that digital transformation is needed to speed up the process.
1Benham and Reeves, 2025, 2Key, 2025, 3OPDA, 2025
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.
