As most people are well aware trying to get anywhere near the property ladder these days has become nigh on impossible for some people. Today’s younger generation – people in their twenties and thirties – are now finding it so difficult to get onto the property ladder that many have resigned themselves to living with family or renting a home, resulting the demand for rented property soaring. However, many of the older generation are at the other end of the scale, basking in property wealth.

According to recent reports one in seven couples that are in their fifties and early sixties are the proud owners of two properties whereas their kids and grandkids are struggling to even get one property in the current climate. The older couples with second homes have around £250,000 tied up in the second property not including any mortgage that they have on the property. This does not include the value of their main first home.

Younger people, on the other hand, are paying a fortune simply to rent a home, and with the banks demanding huge deposits many people hold out little hope of ever being able to enjoy owning one property never mind two. Many of the older people that have two properties have one that is abroad or in the countryside and another that is their main residence. Many will have purchased their property at a time before the property price boom and therefore will have paid only a fraction of the amount that it would cost for the same property now.

For many people who are in their twenties and thirties the only way they will get their hands on their own property in the near future is if they are left a property by parents or grandparents.