The links between housing and the accumulation of wealth have received little attention in recent years. The predominant concerns of housing policy and housing research have been questions of access, mobility and use. This paper argues that British housing has reached a critical stage in its development where new issues are emerging, particularly in relation to property inheritance and the differential accumulation of wealth. Current trends indicate increasing polarisation between owners and non-owners of property, an increasingly stratified owner occupied sector and a situation where housing processes can create and sustain new patterns of inequality.