New analysis by Savills has revealed that homeowners aged 60 and over are now sitting on a record £2.95 trillion in property wealth. Strikingly, 98 per cent of this is mortgage-free, underlining the scale of the UK’s generational housing divide.

Of the total, £2.89 trillion is owned outright by over-60s, with just £60 billion — or 2 per cent — secured against mortgages. This highlights not only the financial security of older homeowners but also the growing challenges faced by younger generations trying to get onto the property ladder.

(Source: The Times)