- A new analysis by property firm Savills reveals that owner-occupiers aged 60 and over hold 55 per cent of the UK's net housing wealth, amounting to an estimated £3.84 trillion in equity.
- This significant wealth, with £2.92 trillion tied up in main residences, is particularly concentrated in London and the South East, where older homeowners possess over £1 trillion.
- Lucian Cook from Savills highlighted the potential for intergenerational equity transfer and the unlocking of wealth from older investors, especially those in buy-to-let properties.
- Separately, property website Zoopla reported a softening in home buyer demand across the UK in March, with a 2 per cent annual decline in agreed sales.
- This slowdown is attributed to rising mortgage rates and global uncertainty, leading to a 13 per cent year-on-year drop in buyer inquiries, despite a 6 per cent increase in homes for sale.
IN FULL
Older generations ‘holding onto most of the UK’s housing wealth’ as market stalls
