Homeowners aged 60 and over hold more than half of the UK’s net housing wealth, with £3.84 trillion tied up in property belonging to this age group, according to new analysis from Savills. The figures highlight a significant generational divide in property ownership, with older homeowners holding the majority of both owner-occupied and buy-to-let housing wealth – a pattern likely to shape the rental market as landlords age and consider their exit strategies.
Where the wealth sits
Savills estimates that over-60s hold £2.92 trillion in main residences, £0.62 trillion in buy-to-let properties, and £0.29 trillion in other residential holdings. This means older landlords control a substantial share of the private rented sector’s asset base. The total amount of net housing wealth in the UK has risen by £2.45 trillion – a 54 percent increase – over the ten years to the end of 2025. However, three successive years of modest house price growth means the rate of increase has slowed significantly, with total housing wealth rising by just 3.4 percent last year. This follows Landlord Knowledge’s recent report on the private rental sector shrinking by £48 billion as landlords exit the market – a trend closely linked to the demographics of property ownership.
Regional concentration of wealth
Lucian Cook, head of residential research at Savills, said: “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. Much of it is concentrated in London and the South East, where owner-occupiers aged 60 and over alone hold just over £1 trillion in net housing wealth.” On a regional basis, the over-60s account for the highest proportion of homeowner wealth in the South West and North East, each at 60 percent. However, the absolute value is greatest in the South East, where older homeowners hold £602 billion – as much as Scotland, the North West and Yorkshire and the Humber combined. Cook added: “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.” Almost half of the UK’s £7 trillion net housing wealth – £3.45 trillion – is held by unmortgaged owner occupiers, compared with £1.84 trillion held by mortgaged owners and just £1.17 trillion held by private landlords. For buy-to-let investors, the data suggests that a significant wave of inheritance and intergenerational wealth transfer could reshape the rental market in coming years as older landlords pass on or sell their portfolios.
What this means for landlords
- If you’re an older landlord considering exit: The data confirms you’re not alone – a significant portion of BTL wealth is held by your age group, and selling decisions will collectively shape market supply.
- Watch for: Intergenerational wealth transfer may bring new, younger landlords into the market – or convert rental properties to owner-occupied homes as heirs choose to live in inherited properties.
- Bottom line: The concentration of rental housing wealth among over-60s means the sector’s future depends heavily on this generation’s decisions over the next decade.
Editor’s view
The scale of housing wealth held by older generations is staggering – and explains much about both the rental supply squeeze and the political tensions around property taxation. For landlords, the key question is whether that wealth flows back into the rental market through new investors, or drains away as properties are sold to owner-occupiers.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 30 March 2026
Sources: Savills Research
Related reading: Private rental sector shrinks £48bn as landlords exit market
