Downsizing to release equity from the home many not be the best option for the UK's over 55s according to trade body SHIP.
A review of 25 local authorities with a high density of over 55s showed in 32% of cases those who downsize would either be worse off or unable to release sufficient funds to make it worthwhile once costs are taken into account.
While many people can downsize and remain in the same area, others could be forced to move away from their extended support networks.
According to the research, those living in areas like Torbay (£60,939) and North Lincolnshire (£58,810) could release significant equity by downsizing.
Moderate gains could be made by those in Devon (£6,361) and West Sussex (£12,544) once costs are taken into account.
However, those in areas such as Herefordshire (-£42,949)and Poole (Dorset) (-£39,725) may find they make a loss by downsizing.
SHIP director general Andrea Rozario said the decision of how to release equity from the home depends "on each individual's financial situation and preferences."
However, she added that "equity release and downsizing should both be considered - they are not mutually exclusive and can work very well in conjunction."
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