14 Jun English over-55s Own Property Worth More Than Italy’s GD
Looking to the future, increasing longevity means that the over-55 population is expected to grow by a third in the next 20 years. So, by 2036 the figure could increase to £1.9 trillion, not including likely house price inflation. Small wonder then that retirement homebuilders, McCarthy & Stone, find that 34% of people aged 55 to 64 in the UK are looking to downsize to a smaller property for their retirement years. Downsizing can help generate spare funds to bolster retirement income, and smaller purpose-built retirement properties are easier and cheaper to run.
Furthermore – the Bank Of Mum and Dad is now lending at such a rate that would make it the 9th largest mortgage lender in the UK.
McCarthy & Stone, Generation Stuck, 2016
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