Net wealth in the UK is almost £321,000 per household ....

sunshinetours

There would indeed be a huge "South East" and "Rest of UK" divide on averages but this is exactly why these generalisations are pointless for reasons mentioned above

bendix

MrRee wrote: »

The point, Sir .... is that this accounts for the wealth in the stats.

The point, Sir, is that the word 'average' is ridiculously misleading in this context in that it implies each household has this as average wealth. That is certainly not the case.

Let's look at it another way.

There are around 25 million households in the UK. How many of those households do you think have a net wealth or £321,000 or above?

I would suggest it is only around 10-15%, if that.

sunshinetours

bendix wrote: »

The point, Sir, is that the word 'average' is ridiculously misleading in this context in that it implies each household has this as average wealth. That is certainly not the case.

Let's look at it another way.

There are around 25 million households in the UK. How many of those households do you think have a net wealth or £321,000 or above?

I would suggest it is only around 10-15%, if that.

Whilst I totally agree with your general point, I would imagine the amount over the average is more than that. Look how much of the Uk population lives within 30 miles of London and look how many aging households we have. Last stat I saw some time ago was more than 50% of home owners don't have a mortgage. Obvioulsy there are a huge number of non house owenres aswell

Either way agree there are a huge number of people who will be finding things tough compared wioth how they found it previously

System

How is the figure calculated?

Is it:
Total value of all land, houses, businesses, communual assets, infrastucture, investments, pensions, insurance policies, etc,

Less
Total value of all mortgages, loans, debts, etc

Divided by number of households. ?

If so, I am surprised:

1) that it isn't a lot more
2) that it isn't a lot less, possibly even negative
3) that anyone thinks it means anything.

MrRee_2

bendix wrote: »

There are around 25 million households in the UK. How many of those households do you think have a net wealth or £321,000 or above?

I would suggest it is only around 10-15%, if that.

Well, Sir, you would be WAAAAAY out.

I would suggest, given where the main population centres are - and the fact that most homes in those centres are £250k and above - that the true figure would be around 65% quite easily.

sunshinetours

MrRee wrote: »

Well, Sir, you would be WAAAAAY out.

I would suggest, given where the main population centres are - and the fact that most homes in those centres are £250k and above - that the true figure would be around 65% quite easily.

Any source for that?

Mallotum_X

MrRee wrote: »

Well, Sir, you would be WAAAAAY out.

I would suggest, given where the main population centres are - and the fact that most homes in those centres are £250k and above - that the true figure would be around 65% quite easily.

65% of the population have the average or above?

Do you think the maths would actually work on that.

Most homes at 250k in the main population centres? London, Birmingham, Manchester, Leeds, Liverpool, Sheffield....

Yes ok.

Nurse can you put him to bed soon.

chewmylegoff

MrRee wrote: »

Well, Sir, you would be WAAAAAY out.

I would suggest, given where the main population centres are - and the fact that most homes in those centres are £250k and above - that the true figure would be around 65% quite easily.

You seem to have forgotten about mortgage debt in this equation.

I personally doubt that even 10% have net assets of £321,000 although it should be remembered that pension assets are in here as well so there will be a significant of people with final salary pension assets which will be worth a large amount if annuity rates are being used to calculate the theoretical value of the underlying asset.

robmatic

chewmylegoff wrote: »

You seem to have forgotten about mortgage debt in this equation.

I personally doubt that even 10% have net assets of £321,000 although it should be remembered that pension assets are in here as well so there will be a significant of people with final salary pension assets which will be worth a large amount if annuity rates are being used to calculate the theoretical value of the underlying asset.

Indeed, people overlook pension rights but a 'meagre' final salary pension of £4k per year or so is worth over £100k in capital terms, and most long-serving final salary pension scheme members will have an entitlement greater than that.

MrRee_2

My Pension alone has a value of around £900,000.

Come on, am I surrounded by posters who cannot rub two pennies together?

Jeeeeeez, there MUST be someone here who lives on my side of the poverty line - surely to god!