The age group in which wealth is the highest is the 45-64 year old group. Wealth remains relatively high in the 65+ age group but the age group with the lowest wealth is the group 25-44 year olds in which there are children and young adults.
The impact of region on household wealth is least is the 25-44 age group with larger regional differences in the 45-64 and 65+ age groups. A higher share of wealthy individuals live in the South East than in any other region. The North East region has relatively less wealthy households than other regions. It is particularly so for those aged over 65 and more people over 65 live in households with total wealth below £50,000 than those with total wealth over £500,000. In London 22% of 45-64 year olds live in households with wealth over £1m and 18% with less than £50,000.
The sources of wealth most likely to make the difference in wealth distribution are pension wealth and property wealth. The regional variation is greater for property wealth. People over 65 with net property wealth of over £250,000 are distributed regionally and total 41% for London, 38% in the South East, 32-33% in the East of England and the South West and 10-15% in the North East, North West, Yorkshire and Humber and Scotland and Wales. The share of individuals living with a negative net financial wealth varies from 21% in Scotland to 35% in the North East.
