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One in seven retire in second property heaven

According to statistics released by the National Office for Statistics, one in seven people in their late fifties or early sixties has a second property.

In some areas it’s claimed by the National Housing Federation that the number of second home owners has gone up by 2000%.

The typical places where this generation chooses to have their jammy extra pad are Devon, Cornwall and Norfolk. It’s a generation that has benefited from high wages in comparison to property prices.

However, owning a second home isn’t all a walk in the park – apart from extra utility bills you’ve got capital gains tax to think of, which can sting you rotten if you’re not careful.

It’s all a sign of a growing generational wealth gap, with younger generations now struggling to even get on the property ladder.

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