This GLA Intelligence Update takes a brief look at evidence around the wealth gap in London and examines how this has changed in recent years.

Key Findings

• There is a significant gap between the rich and poor in London, both in terms of their wealth and their income.
• A higher proportion of the wealthiest households are in the South East of England than in London.
• Pension wealth accounts for more than half the wealth of the richest ten per cent of the population.
• In London, the tenth of the population with the highest income have weekly income after housing costs of over £1,000 while people in the lowest tenth have under £94 per week.
• The gap between rich and poor is growing, with the difference between the average income for the second highest tenth and second lowest tenth growing around 14 per cent more than inflation since 2003.

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The data included in the report is available to download here

This statistic presents the gross annual earnings (minimum and maximum bracket) of private wealth management specialists working in London (United Kingdom) as of January 2018, listed by years of post-qualification experience. In that time, private wealth managers with up to one year working experience earned between 75 and 85 thousand British pounds (GBP) per annum. Highly qualified wealth managers with over ten years of work experience earned at the minimum 150 thousand GBP yearly.

Percentage of total wealth owned by households in each decile for London and Great Britain. Data extracted from the ONS Wealth and Assets Survey (WAS) microdata. This dataset is one of the Greater London Authority's measures of Economic Fairness. Click here to find out more.

In 2023, the number of individuals living in the United Kingdom (UK) with a net worth of over ** million U.S. dollars excluding the value of their primary residence was more than ****** people. This number is expected to grow to over ****** by 2028.

Percentage of total wealth owned by households in each decile for London and Great Britain. Data extracted from the ONS Wealth and Assets Survey (WAS) microdata. This dataset is one of the Greater London Authority's measures of Economic Fairness. Click here to find out more.

Abstract copyright UK Data Service and data collection copyright owner.

This project examines the crucial role of family and household in the social and economic transformations that took place in London in the sixteenth and seventeenth centuries. Population growth, immigration, urbanisation, and commercialisation produced new patterns of sociability, gender relations, employment, and domestic lifestyle. The family was central to all these developments, but has been little studied in detail. The project will reconstruct and analyse the dense matrix of families, households, properties, and buildings in sample areas of the capital, and trace their evolution over time, gaining new insights into social structures and the agents and circumstances of change.
Main Topics:

The digital resource comprises a series of datasets which contain information about individuals, households and properties transcribed and extracted from a wide range of sources from the period 1540-1710 (a complete list of sources is included in the documentation for the database). The project database contains information on over 60,000 individuals, as well as over 24,000 records of 'listing type' information for five parishes at the eastern end of Cheapside, and 5000 such records for Tower Hill precinct in the parish of St Botolph Aldgate. The information provided in these records comprises names, titles, places of residence (by ward and/or parish and/or street), occupations, and where appropriate an assessment of sums owed according to the function of each particular list.

The datasets also include family reconstitutions for the five Cheapside parishes and Clerkenwell, and derived from parish register entries (there was almost complete and continuous register coverage). In all, the data covers 22,324 instances of people experiencing a baptism, marriage or burial in Cheapside, and 19,095 instances of persons related to them; 140,713 people experiencing a vital event in Clerkenwell and 95,927 'related' people. These data have been used for the reconstitution of 3,809 biological/nuclear families containing 9,027 unique children in Cheapside and 26,324 reconstituted families containing 44,052 unique children in Clerkenwell.

In addition to the project database and the family reconstitution data, a number of sources have been transcribed in a structured format which allows for the viewing of the individual sources used in the database without the need for viewing any related data from other sources.

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House prices vary widely in the United Kingdom (UK), but housing in certain cities and counties is substantially pricier than in others. Surrey, for example, concentrated four of the most expensive towns to buy a home, including Virginia Water, Cobham, and Esher. With an average house price of over one million British pounds as of June 2024, housing in these towns cost roughly four times the national average. How did house prices change since the COVID-19 pandemic? Since the start of the coronavirus (COVID-19) pandemic, demand for housing has been especially high, causing house prices to soar. Among major UK cities, the house price increase was most prominent in Belfast, where it rose by 5.5 percent in 2024. According to the UK House Price Index, the average annual house price increase on a national level was even higher. How long does it take to sell a house? With the demand for housing going strong and inventory running low, aspiring homeowners need to act faster than ever when making an offer on a home. The average number of days on market has continued shortening since the start of 2021 and was a little over a month as of October 2021. Surprisingly, selling a property took the longest in the UK’s most competitive market - London.

Money Raised: Annual: Further Issues: Rights data was reported at 2,550.596 GBP mn in 2017. This records a decrease from the previous number of 3,382.551 GBP mn for 2016. Money Raised: Annual: Further Issues: Rights data is updated yearly, averaging 4,974.975 GBP mn from Dec 1986 (Median) to 2017, with 32 observations. The data reached an all-time high of 49,163.873 GBP mn in 2009 and a record low of 424.744 GBP mn in 2011. Money Raised: Annual: Further Issues: Rights data remains active status in CEIC and is reported by London Stock Exchange. The data is categorized under Global Database’s United Kingdom – Table UK.Z014: London Stock Exchange: Money Raised.

The attached file includes data and code used to analyse population scaling and house size in the ancient Near East.

FOCUSON**LONDON**2010:**INCOME**AND**SPENDING**AT**HOME** Household income in London far exceeds that of any other region in the UK. At £900 per week, London’s gross weekly household income is 15 per cent higher than the next highest region. Despite this, the costs to each household are also higher in the capital. Londoners pay a greater amount of their income in tax and national insurance than the UK average as well as footing a higher bill for housing and everyday necessities. All of which leaves London households less well off than the headline figures suggest. This chapter, authored by Richard Walker in the GLA Intelligence Unit, begins with an analysis of income at both individual and household level, before discussing the distribution and sources of income. This is followed by a look at wealth and borrowing and finally, focuses on expenditure including an insight to the cost of housing in London, compared with other regions in the UK. See other reports from this Focus on London series. REPORT: To view the report online click on the image below. Income and Spending Report PDF https://londondatastore-upload.s3.amazonaws.com/fol/fol10-income-cover-thumb1.png" alt="Alt text"> PRESENTATION: This interactive presentation finds the answer to the question, who really is better off, an average London or UK household? This analysis takes into account available data from all types of income and expenditure. Click on the link to access. PREZI The Prezi in plain text version RANKINGS: https://londondatastore-upload.s3.amazonaws.com/fol/fol10-income-tableau-chart-thumb.jpg" alt="Alt text"> This interactive chart shows some key borough level income and expenditure data. This chart helps show the relationships between five datasets. Users can rank each of the indicators in turn. Borough rankings Tableau Chart MAP: These interactive borough maps help to geographically present a range of income and expenditure data within London. Interactive Maps - Instant Atlas DATA: All the data contained within the Income and Spending at Home report as well as the data used to create the charts and maps can be accessed in this spreadsheet. Report data FACTS: Some interesting facts from the data… ● Five boroughs with the highest median gross weekly pay per person in 2009: -1. Kensington & Chelsea - £809 -2. City of London - £767 -3. Westminster - £675 -4. Wandsworth - £636 -5. Richmond - £623 -32. Brent - £439 -33. Newham - £422 ● Five boroughs with the highest median weekly rent for a 2 bedroom property in October 2010: -1. Kensington & Chelsea - £550 -2. Westminster - £500 -3. City of London - £450 -4. Camden - £375 -5. Islington - £360 -32. Havering - £183 -33. Bexley - £173 ● Five boroughs with the highest percentage of households that own their home outright in 2009: -1. Bexley – 38 per cent -2. Havering – 36 per cent -3. Richmond – 32 per cent -4. Bromley – 31 per cent -5. Barnet – 28 per cent -31. Tower Hamlets – 9 per cent -32. Southwark – 9 per cent

Historical ownership data of CREDIT SUISSE AG LONDON BRANCH NOTE INDEX LNKD by Accel Wealth Management

This data collection consists of 18 interview transcripts meant to explore the rationales and methods by which investors in Hong Kong buy properties in the UK. The life and impact of the residential choices of the 'super rich' has been a major strand in research by the research team. This work advanced the proposition that the upper-tier of income groups living in cities tend to exploit particular forms of service provision (such as education, cultural life and personal services), are largely distanced from the mundane flow of social life in urban areas and tend to be withdrawn from the civic life of cities more generally. Some of this work is underpinned by the literature on, for example, gated communities, but it has surprisingly been under-used as the guiding framework for close empirical work in affluent neighbourhoods, perhaps largely as a result of the perceived difficulty of working with such individuals. This project will allow us to generate insights into how super-rich neighbourhoods operate, how people come to live there and the social and economic tensions and trade-offs that exist as such processes are allowed to run. As many people question the role and value of wealth and identify inequality as a growing social problem this research will feed into public conversations and policymaker concerns about how socially vital cities can be maintained when capital investment may undermine such objectives on one level (the creation of neighbourhoods that are both exclusive and often 'abandoned' for large parts of the year), while potentially fulfilling broader ambitions at others (over tax receipts for example).

Social research has tended not to focus on the super-rich, largely because they are hard to locate, and even harder to collaborate with in research. In this project we seek to address these concerns by focusing extensive research effort on the question of where and how the super-rich live and invest in the property markets of the cities of Hong Kong and London. We see these cities as exemplary in assisting in the construction of further insights and knowledge in how the super-rich seek residential investment opportunities, how they live there when they are 'at home' in such residences and how these patterns of investment shape the social, political and economic life of these cities more broadly. Given that the super-rich make such decisions on the basis of tax incentives and the attraction of major cultural infrastructure (such as galleries and theatre) we have proposed a program of research capable of offering an inside account of the practices that go to make-up these investment patterns including processes of searching for suitable property, its financing, the kinds of property deemed to be suitable and an analysis of how estate agents and city authorities seek to capitalise and retain the potentially highly mobile investment by the super-rich.

In economic terms the life and functioning of rich neighbourhood spaces appears intuitively important. For example, attractive and safe spaces for captains of industry, senior figures in political and non-government organizations are often regarded as major markers of urban vitality and the foundation of social networks that may make-up the broader glue of civic and political society. Yet we know very little about how such neighbourhoods operate, who they attract and how they are linked to other cities and their neighbourhoods globally. Our aim in this research is to grapple with what might be described as the 'problem' of these super-rich neighbourhoods - sometime called the 'alpha territory' - and undertake research that will help us to understand more about the advantages and disadvantages of these kinds of property investment.

United Kingdom Money Raised: New Issues data was reported at 1,150.975 GBP mn in Jul 2018. This records an increase from the previous number of 7.010 GBP mn for Jun 2018. United Kingdom Money Raised: New Issues data is updated monthly, averaging 30.730 GBP mn from Jan 2018 (Median) to Jul 2018, with 7 observations. The data reached an all-time high of 1,150.975 GBP mn in Jul 2018 and a record low of 7.010 GBP mn in Jun 2018. United Kingdom Money Raised: New Issues data remains active status in CEIC and is reported by London Stock Exchange. The data is categorized under Global Database’s UK – Table UK.Z014: London Stock Exchange: Money Raised.

Historical holdings data showing quarterly positions, market values, shares held, and portfolio percentages for CREDIT SUISSE AG LONDON BRANCH NOTE INDEX LNKD held by Accel Wealth Management from Q2 2022 to Q4 2022

This statistic shows the number of Ultra high net worth (UHNW) individuals populating Europe in 2016, by selected cities. London Metropolitan Area topped the list in Europe with over *** thousand ultra high net worth individuals as of 2016.

United Kingdom Money Raised: Annual data was reported at 271,879.510 GBP mn in 2017. This records an increase from the previous number of 122,302.320 GBP mn for 2016. United Kingdom Money Raised: Annual data is updated yearly, averaging 82,468.443 GBP mn from Dec 1980 (Median) to 2017, with 38 observations. The data reached an all-time high of 487,221.057 GBP mn in 2008 and a record low of 1,647.000 GBP mn in 1980. United Kingdom Money Raised: Annual data remains active status in CEIC and is reported by London Stock Exchange. The data is categorized under Global Database’s United Kingdom – Table UK.Z014: London Stock Exchange: Money Raised.

This dataset is about books. It has 1 row and is filtered where the book is Serious money : walking plutocratic London. It features 7 columns including author, publication date, language, and book publisher.

United Kingdom Money Raised data was reported at 1,963.117 GBP mn in Nov 2018. This records a decrease from the previous number of 3,277.626 GBP mn for Oct 2018. United Kingdom Money Raised data is updated monthly, averaging 1,631.447 GBP mn from Jan 2018 (Median) to Nov 2018, with 11 observations. The data reached an all-time high of 3,277.626 GBP mn in Oct 2018 and a record low of 345.010 GBP mn in Jan 2018. United Kingdom Money Raised data remains active status in CEIC and is reported by London Stock Exchange. The data is categorized under Global Database’s United Kingdom – Table UK.Z014: London Stock Exchange: Money Raised.

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