New figures released by leading UK estate agent Savills,’ in their annual report, reveal that the value of the UK housing stock has reached an all time high of £7.14 trillion.
With so much of the nation’s wealth tied up in housing, we take a look at what this means for you, and answer one basic questions. Who owns the property wealth in the UK?
Who holds the wealth?
New research has shown that the over 50s now hold a whopping 75% of the UKs housing wealth, a total of £2.8 trillion. In sharp contrast, the under 35s account for just 6% of the UKs housing equity, signalling a striking generational divide in the nation’s property wealth.
While the figures show the extent of the gap in ownership of wealth, they are not news for the millions of under 35s struggling to get a mortgage. A government survey recently revealed that over 4.7 million households (20 per cent) now privately rent – a figure that has more than doubled from 20 years ago and is still on the rise today.
What does this mean for families, landlords, investors? Where are the good returns? What is the outlook for the UK property market?
For the answers to these questions or should you require further information, please contact me. I will be happy to help with whatever questions you may have.
Rob.
E: robert.gourlay@holbornassets.com T: (+6) 01151565649 W: www.rgwealthsolutions.com
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