Some two thirds of the UK’s over-65s live in houses with two or more spare bedrooms, according to Nationwide. The figure has emerged with politicians mulling how to increase the efficient use of property by incentivising older people to downsize, releasing money that Boomers are claimed to be “hoarding”. Nationwide’s chief economist Robert Gardner, says the current rate of homes changing hands (about 5% a year) is significantly higher than the lows seen during the bank crisis that caused global panic in 2008 but is still lower than the prevailing 8% seen before that. With the number of young owner occupiers falling this sluggish market has led to a steady, decade long increase in overall under utilisation of living space.
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