Wealth gap between younger and older households has shrunk – report

Researchers found the typical household wealth of someone who was in their 60s in 2018-20 has fallen by 16% over the past five years (Joe Giddens/PA) - (PA Archive)

The average wealth gap between households aged in their 30s and those of their parents’ generation in their 60s has shrunk by £86,000 over the past five years, according to a think tank.

Britain’s “wealth boom” has started to unwind since interest rates started rising in response to the recent inflation shock, the Resolution Foundation said.