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.

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.

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

Wealth inequality has been sharply rising in the United States and across many other high-income countries. Due to a lack of data, we know little about how this trend has unfolded across locations within countries. Investigating this subnational geography of wealth is crucial, as from one generation to the next, wealth powerfully shapes opportunity and disadvantage across individuals and communities. Using machine-learning-based imputation to link newly assembled national historical surveys conducted by the U.S. Federal Reserve to population survey microdata, the data presented in this paper addresses this gap. The Geographic Wealth Inequality Database ("GEOWEALTH-US") provides the first estimates of the level and distribution of wealth at various geographical scales within the United States from 1960 to 2020. The GEOWEALTH-US database enables new lines investigation into the contribution of inter-regional wealth patterns to major societal challenges including wealth concentration, spatial income inequality, equality of opportunity, housing unaffordability, and political polarization.

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life and personal services), are largely distanced from the mundane flow of social life in urban areas and tend to be withdrawn from the civic life of cities more generally.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.

75% of households from the Bangladeshi ethnic group were in the 2 lowest income quintiles (after housing costs were deducted) between April 2021 and March 2024.

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

In 2023, ******* individuals with net assets of at least ** million U.S. dollars were residing in the *************, by far the highest number of any country. By comparison, *****, which had the second highest number of ultra high net worth individuals (UHNWIs), had less than 100,000 individuals with assets amounting to ** million U.S. dollars or more.Place of residence of ultra high net worth individuals The residency of almost half of the world’s ultra high net worth individuals in the United States explains the dominance of North America in regard to the number of ultra high net worth individuals by region. Hong Kong was the city with the most UHNWIs in 2022, followed by New York, London, and Los Angeles. Source of wealth and gender differences A majority of the world's UHNWIs are self-made. However, looking at billionaires, there is a clear difference between men and women; whereas a majority of billionaire men were self-made, a majority of the women had inherited their fortune.

In 2023, the gross domestic product per capita in London was 63,618 British pounds, compared with 37,135 pounds per capita for the United Kingdom as a whole. Apart from London, the only other region of the UK that had a greater GDP per capita than the UK average was South East England, at 38,004 pounds per capita. By contrast, North East England had the lowest GDP per capita among UK regions, at 26,347 pounds. Regional imbalance in the UK economy? London's overall GDP in 2022 was over 508 billion British pounds, which accounted for almost a quarter of the overall GDP of the United Kingdom. South East England had the second-largest regional economy in the country, with a GDP of almost 341.7 billion British pounds. Furthermore, these two regions were the only ones that had higher levels of productivity (as measured by output per hour worked) than the UK average. While recent governments have recognized regional inequality as a major challenge facing the country, it may take several years for any initiatives to bear fruit. The creation of regional metro mayors across England is one of the earliest attempts at giving regions and cities in particular more power over spending in their regions than they currently have. UK economy growth slow in late 2024 After ending 2023 with two quarters of negative growth, the UK economy grew at the reasonable rate of 0.8 percent and 0.4 percent in the first and second quarters of the year. This was, however, followed by zero growth in the third quarter, and by just 0.1 percent in the last quarter of the year. Other economic indicators, such as the inflation rate, fell within the expected range in 2024, but have started to rise again, with a rate of three percent recorded in January 2025. While unemployment has witnessed a slight uptick since 2022, it is still at quite low levels compared with previous years.

The research aimed to develop and test models of household savings and labour supply to evaluate how reforms to social insurance schemes would impact household behaviour, household well-being, inequality and the public finances. There was no primary data collected as part of the grant. The materials uploaded consist of code to reproduce analysis and open licence secondary data. The 1332-6709-1-SP folder contains the supplementary material for Crawford, R. & O'Dea, C, "Household Portfolios and Financial Preparedness for Retirement" work. The HealthAffairsPaper.7z contains the replication materials supporting the project French EB, McCauley J, Aragon M, Bakx P, Chalkley M, Chen SH, et al. End-of-life medical spending in last twelve months of life is lower than previously reported. Health Aff (Millwood). 2017;36(7). The inheritances_report consists of the dofile "MasterReplication.do" required to re-create the results of the report “Inheritances and inequality over the life cycle: what will they mean for younger generations?”. The data sources used are the End-user-license versions of the English Longitudinal Study of Aging and the ONS Wealth and Assets Survey data. These data are available to download from the UK Data Service Website. The only non-publicly available data used here are a series of estimates made using the Longitudinal Study and exported from the Secure Research Service (SRS). These are available from the authors on request and with permission of the SRS. The authors' are happy to give guidance in how to access the data used in the project. The IntergenAltruismPaper contains the supplementary materials for "Intergenerational Altruism and Transfers of Time and Money: A Lifecycle Perspective" by Uta Bolt, Eric French, Jamie Hentall MacCuish and Cormac O'Dea. All relevant data can be downloaded from the UK Data Service: NCDS - https://beta.ukdataservice.ac.uk/datacatalogue/series/series?id=2000032; UKTUS - https://beta.ukdataservice.ac.uk/datacatalogue/series/series?id=2000054; ELSA - https://beta.ukdataservice.ac.uk/datacatalogue/studies/study?id=5050 and Family Expenditure Survey - https://beta.ukdataservice.ac.uk/datacatalogue/series/series?id=200016. The JHR_BlundellBrittonCostaDiasFrench contains the files for "The impact of health on labor supply near retirement" by Richard Blundell, University College London, Jack Britton, Institute for Fiscal Studies, Monica Costa Dias, Institute for Fiscal Studies and Eric French, University College London. The LifetimeMedicalSpending contains the code and results used in "The Lifetime Medical Spending of Retirees". Tables 1&2 are produced by the contents of the "healthtrans" directory. The operative file is "life_exp_couples3.gau", which runs in GAUSS. (c_elifeMCs.m is Matlab code that performs the same calculations for a given household configuration, but it does not produce the summary tables.) The output resides in "life_exp_couples3_021118b.out". Look for the bottom instance of the phrase "Life Expectancy Tables". The results for the oldest survivor lie to the far right of the panel for couples. Finally the MediationPaper consists of the supplemnetary materials for "The Intergenerational Elasticity of Earnings: Exploring the Mechanisms" by Uta Bolt, Eric French, Jamie Hentall MacCuish, and Cormac O'Dea Details of what each of the flders contain are in the respective ReadMe files.

The provision of 'social insurance' (the benefits governments pay to those who are ill, unemployed, disabled, poor or old), accounts for more government expenditure than any other category of public spending. This social insurance is potentially valuable to all households, not just those receiving those benefits at a given point in time. It ensures that, should households find themselves in difficult circumstances, they will be shielded from extremely low living standards. However, the provision of social insurance also brings costs. These costs are both direct (e.g. the financial cost of the transfers) and indirect (e.g. the provision of benefits reduces the incentives to work and save). Balancing these costs and benefits is a challenge for policy-makers.

Our proposed research will develop and test models of household savings and labour supply to evaluate how reforms to social insurance schemes would impact household behaviour, household well-being, inequality and the public finances.

In the 3 years to March 2021, black households were most likely out of all ethnic groups to have a weekly income of under £600.

About 36 percent of homeowners in England were aged 65 and above, which contrasts sharply with younger age groups, particularly those under 35. Young adults between 25 and 35, made up 15 percent of homeowners and had a dramatically lower homeownership rate. The disparity highlights the growing challenges faced by younger generations in entering the property market, a trend that has significant implications for wealth distribution and social mobility. Barriers to homeownership for young adults The path to homeownership has become increasingly difficult for young adults in the UK. A 2023 survey revealed that mortgage affordability was the greatest obstacle to property purchase. This represents a 39 percent increase from 2021, reflecting the impact of rising house prices and mortgage rates. Despite these challenges, one in three young adults still aspire to get on the property ladder as soon as possible, though many have put their plans on hold. The need for additional financial support from family, friends, and lenders has become more prevalent, with one in five young adults acknowledging this necessity. Regional disparities and housing supply The housing market in England faces regional challenges, with North West England and the West Midlands experiencing the largest mismatch between housing supply and demand in 2023. This imbalance is evident in the discrepancy between new homes added to the housing stock and the number of new households formed. London, despite showing signs of housing shortage, has seen the largest difference between homes built and households formed. The construction of new homes has been volatile, with a significant drop in 2020, a rebound in 2021 and a gradual decline until 2024.

In 2023, London had a gross domestic product of over 569 billion British pounds, by far the most of any region of the United Kingdom. The region of South East England which surrounds London had the second-highest GDP in this year, at over 360 billion pounds. North West England, which includes the major cities of Manchester and Liverpool, had the third-largest GDP among UK regions, at almost 250 billion pounds. Levelling Up the UK London’s economic dominance of the UK can clearly be seen when compared to the other regions of the country. In terms of GDP per capita, the gap between London and the rest of the country is striking, standing at over 63,600 pounds per person in the UK capital, compared with just over 37,100 pounds in the rest of the country. To address the economic imbalance, successive UK governments have tried to implement "levelling-up policies", which aim to boost investment and productivity in neglected areas of the country. The success of these programs going forward may depend on their scale, as it will likely take high levels of investment to reverse economic neglect regions have faced in the recent past. Overall UK GDP The gross domestic product for the whole of the United Kingdom amounted to 2.56 trillion British pounds in 2024. During this year, GDP grew by 0.9 percent, following a growth rate of 0.4 percent in 2023. Due to the overall population of the UK growing faster than the economy, however, GDP per capita in the UK fell in both 2023 and 2024. Nevertheless, the UK remains one of the world’s biggest economies, with just five countries (the United States, China, Japan, Germany, and India) having larger economies. It is it likely that several other countries will overtake the UK economy in the coming years, with Indonesia, Brazil, Russia, and Mexico all expected to have larger economies than Britain by 2050.

This statistic illustrates the number of millionaire (HNWI, UHNWI) and billionaire individuals in the United Kingdom (UK) in selected years from 2013 to 2018 and a forecast for 2023, by wealth bracket. The high, ultra-high and billionaire's population grew steadily throughout time, with projection to increase approximately ** percent, ** percent and ** percent respectively by 2023 in comparison to 2018.