Housing wealth is becoming the fourth pillar of retirement planning, and a new global survey shows just how fast the shift is happening
The global equity release market is on course to nearly treble in size by 2035, reaching £38.4bn in annual releases. That is the central finding of the fourth Global Equity Release Survey, published on 12 October 2026. The report was produced jointly by the European Pensions and Property Asset Release Group (EPPARG) and EY.
Across the 14 countries covered by the survey, homeowners collectively access the equivalent of £13.1bn in housing wealth annually. The projected rise to £38.4bn by 2035 will be driven primarily by North America.
| Markets covered in the survey | |
|---|---|
| Australia | Italy |
| Canada | The Netherlands |
| France | Norway |
| Germany | Poland |
| Hong Kong | Spain |
| Ireland | Sweden |
| United Kingdom | United States |
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The case for adding equity release to your toolkit
For UK mortgage professionals, this is a market moving from niche to mainstream. Lifetime mortgages account for over 99% of UK equity release activity, according to the Equity Release Council, and remain the most common product type globally. The survey confirms that equity release products in the UK, Australia, North America, and Hong Kong are available from age 55, while most European markets set the threshold between 60 and 65.
Lump sum products remain the most popular globally. A combination of lump sum and annuity is the preferred structure in France and Hong Kong. Drawdown and annuity products are also available in several markets, reflecting growing demand for flexibility among older borrowers.
The survey was adopted at an EPPARG meeting in Madrid on 29 September, hosted by Spanish equity release advisory firm Óptima Mayores.
This coincides with a period of renewed momentum in the UK market. Total equity release lending in the UK rose to £597m in the second quarter of 2026, up 4% on the previous quarter.
Why is property wealth now the fourth pillar of retirement planning?
Jim Boyd, chief executive of the Equity Release Council, said the survey findings aligned with expectations for the UK market. “With estimates that 15 million UK citizens have inadequate savings to achieve a moderate standard of living in retirement, there is recognition that property wealth must form a part of any retirement funding solution,” he said.
Boyd said the Financial Conduct Authority has described housing wealth as the fourth pillar of retirement planning, alongside pensions, savings, and investments. He added that the standards established over 35 years by the Equity Release Council are recognised globally as the benchmark for a consumer-focused market.
Steve Kyle, Secretary General of EPPARG, pointed to the structural drivers behind projected growth. “We strongly believe the challenges of ageing populations in many countries will lead to unsustainable social, economic and intergenerational costs,” he said. “A safe equity release market has a vital role to play in later life lending and planning, with many elderly homeowners across the globe wishing to remain independent for longer.”
Kyle added that proportionate consumer standards are essential for protecting borrowers. They are equally important for enabling innovation and attracting new entrants to the sector.
The later life lending market is expanding well beyond equity release alone, with retirement interest-only mortgages and later life mortgages offering additional routes. Brokers with older clients have more options to offer.
Funding remains a barrier in some markets
The survey identifies a lack of domestic funding as a significant constraint on growth in several European countries, including Italy and Ireland. In the UK, domestic funding is well established — a structural advantage that positions British lenders favourably against European peers. Equity release financing globally is provided primarily by banks, with securitisations second, followed by insurers.
Ben Grainger, a partner at EY, said cross-border funding relationships are beginning to give providers the firepower to scale. He expressed confidence in the sector’s long-term trajectory.
Steve Irwin, President of the National Reverse Mortgage Lenders Association (NRMLA) in the United States, said the report offered a measure of optimism. He framed housing wealth as a growing component of retirement security, particularly as ageing populations face pressure from persistent inflation.
Digitalisation, automation, and artificial intelligence are reshaping how equity release providers operate. All survey respondents expect to use these tools for customer due diligence and marketing within five years.
Survey respondents ranked consumer education as the single biggest lever for growth — a finding that will resonate with UK advisers who have long faced the same challenge. The gap between consumer awareness and the options available to older borrowers has been a recurring theme for UK advisers across the later life lending sector. For advisers, the EPPARG data reinforces that the demand pipeline is there. The task now is making sure older clients know it.
All dollar figures converted to sterling at £1 = $1.3524 (XE.com, 13 October 2026). Original figures: $17.7bn current global market; $52bn projected 2035 market.
