Research from Key Retirement Solutions shows the rise in property prices means that for the first time the nation's retired homeowners now have over £1 trillion of equity in their homes.
This is an increase of around £444bn or 75.32 per cent since 1998, when they had £589bn worth of equity.
Key Retirement Solutions managing director Colin Taylor says: "With the rise in property prices, many retired homeowners now have considerable wealth. However, given that the majority of this is generally tied up in bricks and mortar, a number are living close to or below the poverty line. To help alleviate this, many could consider releasing some of the equity in their homes through an equity release plan."