Over-55 UK homeowners have more wealth locked-away in their homes than the entire annual GDP of Italy



Homeowners who are aged over-55 have more wealth locked-away in their homes than the entire annual GDP of Italy, research shows.
People in England aged 55 and over currently own £1.5trillion worth of property, £0.1trillion more than Italy’s annual GDP, according to retirement income firm Age Partnership.
With the average cost of a house in England standing at £229,383 and 6.3million over-55s owning their home outright, the £1.5trillion figure puts this age group among the richest property owners in the world.
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9 October 2016 in Business, Views: 47
Source: Daily Mail
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