Second homes now worth nearly £1tn to Britons

Extra property wealth rises 50% but numbers of young families owning homes halves in 20 years

Property wealth in Britain from second homes has risen by more than 50% over the past two decades to reach nearly 1tn, according to a report that indicates growing inequality across the UK.

Total property wealth for UK residents from second homes, buy-to-let investments and overseas property has risen in value from around 610bn in 2001 to 941bn.