Baby boomers now own the majority of the country’s housing wealth, new analysis shows, as younger generations are waiting increasingly longer to get on the property ladder.
Data from Savills shows that those aged 60 and over own 55 per cent of the UK’s housing wealth, while those aged 40 and under own only 10 per cent – demonstrating a widening generational gap.
The over-60s own properties worth a record £3.84 trillion without mortgages, including main homes and buy-to-let. On main homes alone, they own £2.925 trillion outright. This is up £35bn on just the year prior, as the figure continues to hit new highs.
Meanwhile, those in their 40s own £860bn; in their 30s, £536bn; and under 30s, £130bn. This works out at £1.526 trillion in total, just 22 per cent of the market.
People in their 50s own £1.139 trillion, making up 23 per cent of the market.
Separate analysis by The Independent has revealed how the trend of home ownership has changed over time, with over-65s making up 62 per cent of households that owned their homes outright in 2024/25.
This is compared to 23 per cent of 55-64s, 9.16 per cent of 45-54s, and less than 3 per cent for each bracket below this range. This gap has also widened over the years, official data shows, with the percentage points between over-65s and 45-54s rising from 42 to 53.
Experts have pointed to rising house prices as a significant barrier facing younger generations. A spike in house prices during the Covid pandemic saw the average price hit nearly £300,000 in 2022, up from around £230,000 in 2020. This has now dropped back to £270,000, according to the latest government data.
Lucian Cook, head of residential research at Savills, said: “Housing is clearly a massive store of wealth in the UK, especially for older homeowners who hold high proportions of both owner-occupier and buy-to-let housing wealth.”
“Over the past year, we have seen more robust first-time buyer transactions as mortgage regulation was relaxed, but the passing of equity between generations is still going to be a prominent feature of the housing market in coming years.”
