The house 'earnings' award goes to ....

Windofchange

Ok, well there you go. Enjoy.

economic

ukcarper wrote: »

In 2013 22% of households in London had a total wealth of over £1m, that's everything including pension pot.

thanks so for me im not even in the top 20% of london. maybe top 30%. this shows there are a lot of people with money and property prices as they are should not be surprising.

ukcarper

economic wrote: »

thanks so for me im not even in the top 20% of london. maybe top 30%. this shows there are a lot of people with money and property prices as they are should not be surprising.

I suppose it's mainly property prices, I wonder how many people sitting in expensive properties could afford them now.

economic

ukcarper wrote: »

I suppose it's mainly property prices, I wonder how many people sitting in expensive properties could afford them now.

my parents are and have been average earners and they have enough savings/investments to buy their own home outright. so i imagine there are more like them.

ukcarper

economic wrote: »

my parents are and have been average earners and they have enough savings/investments to buy their own home outright. so i imagine there are more like them.

I wouldn't have though so, I've been an average earner and I haven't and most of the people I know haven't.

ukcarper

According to ONS aggregate household wealth in UK breaks down to 38% pension 37% property 14% financial and 12% physical.

economic

ukcarper wrote: »

According to ONS aggregate household wealth in UK breaks down to 38% pension 37% property 14% financial and 12% physical.

ok so a lot in property and pension.

fun4everyone

London mostly property wealth, but they really are rolling in it. Almost 1 in 30 people in London are dollar millionaires now, you are close to that mark Economic.

economic

fun4everyone wrote: »

London mostly property wealth, but they really are rolling in it. Almost 1 in 30 people in London are dollar millionaires now, you are close to that mark Economic.

1 in 30 people or households?

fun4everyone

economic wrote: »

1 in 30 people or households?

People. Article a few years old but property has gone up since then but of course the pound has heavily weakened also.

https://www.theguardian.com/cities/2014/aug/05/london-millionaire-capital-world-city-new-york-tokyo

Substantial difference over time though. You could have been a dollar millionaire with a net worth of £500,000 in 2007. Nowadays you need over £800,000.