Almost half of homeowners aged 45 and over are relying on money tied up in property to boost their retirement income, research shows.
Experts warned that many of these people seriously overestimate how far these assets will stretch, and they face disaster if house prices crash.
The proportion of people who expect to rely on property wealth in their retirement is higher among those aged 45 to 54 than older age groups, highlighting a generational shift in attitudes.
The latest retirement report by the insurer Aviva indicates that pensions remain people’s favoured option for retirement savings, but most believe that they will have to top up their pension with money that is tied up in their home. Seven out of ten people aged over 45