REPORT
Mar 7, 2016
UK Boomers on Home

As they begin to retire and their kids fly the nest, the dynamics of the Boomer home are changing. So how much time are they spending there? And how much money are they spending on maintaining it? Canvas8 sat down with Brits aged 50 to 69 to find out how they feel about their homes.

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Scope

In 1969, when many older Boomers were taking tentative steps onto the property ladder, the average UK starter home cost £4,000. In 2015, that figure had risen to £209,000 – a surge of 5,225%. [1] So perhaps it’s no surprise that this generation are holding onto their homes. While the portion of 25- to 34-year-old homeowners dropped from 66.5% to 36% in 2013, the number of Boomers that own homes rose from 62% to 77%. [2] And the average length of ownership is now 23 years; triple what it was in the ‘80s. [3]