UK Boomers Hold Nearly £3 Trillion in Property Wealth — What That Means for Retirement and Equity Release

UK Boomers Hold Nearly £3 Trillion in Property Wealth — What That Means for Retirement and Equity Release

At MY LATER LIFE, an award-winning equity release specialist, we regularly speak with homeowners who are unaware of just how much wealth is tied up in their property. A recent article from The Telegraph brings this issue into sharp focus, revealing that people aged 60 and over now hold an extraordinary £2.95 trillion in UK housing wealth — most of it completely mortgage-free.

This figure, based on new analysis from estate agency Savills, highlights a striking generational divide in property ownership. Over-60s now account for more than half (56%) of all owner-occupier housing wealth in the UK. Meanwhile, younger generations — particularly those under 45 — own just over £1.5 trillion in property assets, much of which is still tied up in mortgage debt.

A Growing Challenge: Property-Rich, Cash-Poor
Many of these older homeowners are described as “property rich but cash poor.” They may have lived in their homes for decades, watching their property values soar over time. Yet despite sitting on significant housing wealth, they often face financial constraints in retirement due to limited access to liquid assets.

Over-60s owner-occupier net wealth. ___________________________________________ Distribution of owner occupied wealth in millions

For some, this means struggling to cover day-to-day costs, delaying home improvements, or putting retirement goals on hold. Others may want to help their children or grandchildren onto the property ladder but feel unable to do so without selling their home.

Downsizing Isn’t Always the Answer

While downsizing is often discussed as a way to release property wealth, it isn’t always practical. The article points out that a lack of suitable retirement properties and the emotional ties people have to their long-time homes often prevent them from moving. The result? Large, high-value homes are occupied by individuals or couples whose space and financial needs have changed—but whose assets remain locked in bricks and mortar.

Equity Release: A Flexible Financial Solution

Equity release offers an increasingly popular alternative. It allows homeowners aged 55 and over to unlock tax-free cash from their property without the need to move. This money can be used however they wish — from topping up retirement income and paying off existing debts to funding travel, home renovations, or gifting money to loved ones.

At MY LATER LIFE, we specialise in safe, regulated equity release options tailored to each client's needs. Our experienced advisors take the time to understand your situation and guide you through the process, so you can make an informed decision with confidence and peace of mind.

Why This Matters Now
As the UK population ages and more people head into retirement with wealth tied up in their homes, equity release will play an increasingly important role in financial planning. Whether you're looking to boost your retirement lifestyle, prepare for future care needs, or simply get more from the home you’ve worked so hard for, releasing equity could be the key.

This article from The Telegraph is a timely reminder of the scale of untapped wealth in UK homes — and the importance of considering all your options as you plan for later life.

Click here to read the full article on The Telegraph

“equity release options”
“unlock tax-free cash from property”
“retirement financial planning”
“property rich but cash poor”
“release property wealth”
“safe and regulated equity release”