Property boom drives 15 PER CENT rise in wealth with average British household worth £259,000 – but the South East is SIX TIMES richer than the North East
The property boom has driven a 15 per cent rise in wealth, with the average British household worth £259,000, it was revealed today.
But official figures also reveal the huge gap in the fortunes of different regions – with the South East more than six times richer than the North East.
The total assets held by the top 10 per cent of households were also five times greater than those of the bottom half combined.
The details emerged in the latest data released by the Office for National Statistics (ONS).
The body carries out a survey every two years, gathering information on assets such as houses and furniture, levels of savings and debt, and pensions.
The country’s total wealth was recorded as £12.8trillion between July 2014 and June 2016.
That was up 15 per cent on the previous two-year period, without adjusting for inflation.
The most common net worth for households went up from £225,100 to £259,400.