Many affluent older home owners who first bought in the 70s, 80s and even 90s are sitting in mortgage less high value property. With mortgage free property now accounting for more than a third of the total value of the UK residential property market.
The lower end of the housing market is no longer powered by first time buyers, but by property investors / landlords. With FTB's frustrated by high deposits and difficult lending criteria they are kept renting for longer, pushing demand back to property investors in an upward spiralling cycle.
Geographical split, London housing stock value now holds twenty percent of the total value of UK property, the highest share since 2000.
Download the full Savills property report Q1 2013 here
Landlord insurance here - discounted portfolio rates
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