Over-60s own massive share of UK housing wealth

Owner‑occupiers aged 60 and over hold the majority (55%) of the UK’s net housing wealth in the UK.

An assessment of housing wealth from property firm Savills shows that those aged 60-plus hold a total of £3.84 trillion of housing equity. 

This comprises £2.92 trillion in main residences, £0.62 trillion in buy‑to‑let investments and £0.29 trillion in other residential holdings.

Wealth over time

Overall, the total amount of net housing wealth in the UK has risen by £2.45 trillion (+54%) over the ten years to the end of 2025. At a time, the amount of mortgage debt grew by £0.45 trillion (+35%).

However, three successive years of modest house price growth means the accretion of total housing wealth has slowed significantly, increasing by just 3.4% or £230 billion (0.23 trillion).

“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” says Lucian Cook, head of residential research at Savills.

“Much of it is concentrated in London and the South East, where owner‑occupiers aged 60+ alone hold just over £1 trillion in net 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.

“Some of the pressure we are seeing on private landlords is likely to unlock some housing wealth, as older investors cash in on the gains they have made in retirement.

“But overcoming some of the psychological ,economic and practical barriers to downsizing would potentially have a bigger overall impact on the housing market.”

Wealth by tenure

The research shows that older homeowners have been the primary beneficiaries of the growth over the past decade.

Almost half of the UK’s £7 trillion net housing wealth (£3.45 trillion) is held by unmortgaged owner occupiers.

That is 88% more than the £1.84 trillion of housing wealth held by mortgaged owner occupiers (who carry £1.30 trillion of associated debt) and almost three times the £1.17 trillion of net housing wealth held by private landlords.

Together that means across all of their property holdings, the over 60s hold 55% of all of the UK’s privately held housing wealth.  

Older owner-occupiers’ wealth is greatest in the South East

On a regional basis, the over 60s account for the highest proportion of homeowner wealth in South West and the North East (each 60%). 

However, owner-occupier wealth among the over 60s is highest in the South East, home to lifestyle hotspots favoured by retirees. Here over 60s hold £602 billion of housing wealth. This is as much as Scotland, the North West  and Yorkshire & the Humber combined.

While the capital has fewer older homeowners, those owner occupiers aged 60 or more still hold £428 billion in housing wealth, bringing the total across London and the South East to over £1 trillion.

Share this article …