Wealth Distribution In Great Britain

The 'Wealth of Great Britain' report published by the ONS tells us that the net wealth of private households totalled £9 trillion in 2006-8. It also tells us that it is not distributed very evenly. The wealthiest 20% of households accounted for 62% of the total wealth while the least wealthy 10% had negative total net wealth.

The median household net wealth was £204,500 which means that 50% have more and 50% have less than that figure. The Wealth and Assets survey also tells us that 39% of the total of private net wealth is in property and private pensions and 11% is in things like cars and antiques.

Wealth also varied according to location. The South East of England was the wealthiest area with a median wealth of £287,900 and the lowest median was in Scotland with £150,600.

Some people have never saved. A total of 35% of people reported that they had never saved with 21% saying they were likely to save in future. Many people do save and 50% reported that they had saved in the 12 months preceding the survey and 37% saying they had saved in the preceding month.

The majority of people, a total of 83%, expect a state pension and 59% expect an occupational or private pension. The survey also reported that 40% of men and 32% of women were contributing to a private pension.