Soaring second home ownership hitting young people

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The number of British people who own a second home, buy-to-let or overseas property has doubled since 2001, says think tank the Resolution Foundation.

  • While the number of millennials who own a home continues to fall, one in 10 people now own an additional property.
  • Just 37% of people born in the 1980s managed to buy a home at the age of 29, compared with half of those born in the 1960s.
  • Wealth from owning a second home has risen since 2001 to almost £1 trillion.
  • Buy-to-let property is now the most common form of property wealth, having grown by 58% since 2006-08, the report found.

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