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Total Household Wealth by Region and Age Group

Released: 04 June 2013 Download PDF

Key Points

Impact of age

On average, wealth is highest amongst the 45-64 year old age group; remains relatively high amongst the 65+ age group but is lower for households in which children or young adults (25-44) live.

  • The share of the population in Great Britain living in households1 with total household wealth2 greater than £500,0003  is 20% for 0-15 year olds, 17% for 25-44 year olds, 43% for 45-64 year olds and 31% for adults aged 65 or over4.    

  • The share living in households with total household wealth less than £50,000 is 30% for 0-15 year olds, 25% for 25-44 year olds, 12% for 45-64 year olds and 14% for adults aged 65 or over.

 Impact of region/country

The impact of region on wealth is smallest for those in the 25-44 age group.  There are larger regional differences apparent amongst the 45-64 and 65 and over age groups.

A higher share of individuals in the South East region live in wealthy households than is the case for other regions.

  • Only 6% of adults aged 45-64 in the South East region live in households in which the total household wealth is less than £50,000 whilst 28% live in households in which the total household wealth is greater than £1 million (GB averages 12% and 19% respectively).

Individuals in the North East region are more likely to live in relatively less wealthy households than is the case for other regions. This is particularly the case for those aged 65 and over.

  • The North East is the only region in which more  individuals aged 65 or over live in households with total wealth below £50,000 (24%) than in households with total wealth >£500,000 (21%).  (GB averages 14% and 31% respectively).

Amongst those aged 45-64 and 65 or over, London has a hollowed out wealth distribution with relatively high shares at both the top and bottom of the wealth distribution and therefore relatively fewer in the middle. 

  • In London, 22% of those aged 45-64 live in households in which the total household wealth is greater than £1 million and 18% in households in which the total household wealth is less than £50,000 (GB averages 19% and 12% respectively).

For children in London however, the distribution is skewed more towards them living in less wealthy households. 

  • 41% of children aged 0-15 in London live in households in which the total household wealth is less than £50,000.   (For Great Britain overall the share is 30%).

Types of Wealth.

Pension wealth5 and property wealth are the most likely sources of wealth to differentiate those at the top and bottom of the wealth distribution. Whilst there is regional variation in both, the regional variation is larger for property wealth.

  • The share of individuals aged 65 or over living in households with net property wealth over £250,000  is 41% in London, 38% in the South East , 32-33% in the East of England and the South West; but only 10-15% in the North East, North West, Yorkshire and The Humber, Scotland and Wales.

The share of individuals living in households with negative net financial wealth (where liabilities such as borrowing, overdrafts & debts exceed assets such as savings) varies from 21% in Scotland to 35% in the North East.

Notes:

1  The analysis and data in this article shows the total wealth of the household in which an individual lives, but makes no assertion as to whether the particular individual is responsible for the wealth in the household or not.  In other words, it does not present information on a person’s individual wealth nor does it examine how wealth within any household is distributed across the occupants of the household. 

2  Total household wealth is a net wealth measure for each household created by adding together the different types of household wealth; property wealth (net), financial wealth (net), physical wealth and private pension wealth. It does not include business assets, accrued rights to state pensions or assets held in Trusts. 

3  There is no specific economic rationale for the choices of £50,000, or £500,000, or £1 million as cut-off points for this analysis – alternative figures could just as easily have been chosen.  The choice of these cut-off points was to simultaneously allow a means of analysing the groups towards the top and the bottom of the wealth distribution whilst also using rounded figures that are easily accessible for users.   Note the <£50,000 group will include those with negative wealth.

4  The data would be consistent with a life-cycle view of wealth in which wealth increases through a working career, peaking at close to retirement age before gradually reducing during retirement.  However, in addition to life cycle effects, the data is also influenced by cohort effects, such that particular generations can be favoured or disadvantaged by impacts such as the timing of house price increases or the relative generosity of private pension schemes. It is not, however, possible to disentangle the relative importance of these life-cycle and cohort effects when using cross-sectional data such as in this analysis. 

5  For most people aged below 65, pension wealth differs from other types of wealth in that it is an entitlement to receive an income in future, rather than wealth available to utilise in the present moment.
 

Wealth of households that are home to children aged 0-15

The graphic (wealth of households that are home to children aged 0-15) shows that 20% of 0-15 year olds in Great Britain live in households with wealth greater than £500,000 whilst 30% live in households with wealth less than £50,000 (the data underlying the graphic is available with Table 1 at the bottom of the page) .  There is, not surprisingly, quite a strong similarity between this data and the data for households that are home to adults aged 25-44. 

There is quite a high level of regional variation in the data.  For example, the share of children aged 0-15 living in households with total wealth less than £50,000 is 41% in London and 37% in the North West, but in the South East region it is just 22%.


Nearly one in three children (29%) in the South East region live in households with total household wealth >£500,000.   As such, it is the only region in which more children live in households with total household wealth greater than £500,000 than live in households with total household wealth less than £50,000.

In the North East, North West and Yorkshire and The Humber regions of England and also in Wales, for each child living in households with total household wealth greater than £500,000 there are 2 or more children living in households with total household wealth less than £50,000

The share of children aged 0-15 in Great Britain living in households in which the total household wealth is greater than £1 million is 6%.  The share is largest in the South East region at 10% and London at 9% whilst the share is at least 4% in each region/country.

Whilst this section has shown the shares of children living in households towards the top and bottom of the wealth distribution, it should be noted that half of children live in households in which total wealth is between £50,000-£500,000.  The regional variations can be seen in Table 1.

 

Table 1: Share of 0-15 year olds by region/country and total household wealth

Total Household Wealth
<£50,000 £50,000-£249,999 £250,000- £499,999 £500,000 - £999,999  £1 million or higher
North East 35% 35% 16% 10% 4%*
North West 37% 30% 17% 12% 4%
Yorkshire & The Humber 29% 41% 18% 9% 4%
East Midlands 29% 37% 16% 12% 5%
West Midlands 30% 36% 15% 14% 5%
East of England 27% 31% 21% 16% 6%
London 41% 25% 13% 13% 9%
South East 22% 28% 21% 19% 10%
South West 26% 30% 22% 16% 7%
Wales 32% 32% 21% 11% 4%
Scotland 27% 34% 20% 15% 4%
Total GB 30% 32% 18% 14% 6%

Table source: Office for National Statistics

Table notes:

  1. The table shows the share of individuals aged 0-15 living in households of differing total wealth in each region.  For example, 35% of 0-15 year olds in the North East region live in households where total household wealth is less than £50,000.

  2. * indicates a data point based on a small sample - such data points should be treated with some caution

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Wealth of households that are home to adults aged 16-24

In general the analysis in this article is focusing on the four age bands, 0-15, 25-44, 45-64, and 65 and above.   The reason for this is not that 16-24 year olds are not considered as important, but rather that the household status of individuals in this age band is often in flux, certainly more so than for other age groups.  By this we mean that some 16-24 year olds will be living with parents, others will be setting up a household, some will be working, others will be in full time study etc.   This makes it difficult to draw firm conclusions from the aggregated data produced in this report for this age group.   Ideally, an investigation of wealth in this age group would need to try to split up the different household types within this age group, in particular between those who still live with parents and those who do not.  However, this is out of scope for this particular report.

However, for those who are interested in what the aggregated data shows for this age group, it is shown in Table 2 below.  As discussed, some care should be taken in interpreting this data as it will include a mix of individuals who still live with parents (and for whom the data on household wealth is likely to reflect the accumulated wealth of parents) and others who live independent of parents.

Table 2: Share of 16-24 year olds by region/country and total household wealth.

Total household wealth
<50,000 £50,000-£249,999 £250,000- £499,999 £500,000 - £999,999  £1 million or higher
North East 43% 25% 13% 9%* 10%*
North West 33% 23% 19% 17% 8%
Yorkshire & The Humber 22% 36% 22% 13% 6%
East Midlands 30% 28% 19% 15% 8%
West Midlands 26% 33% 15% 17% 8%
East of England 22% 22% 23% 19% 14%
London 33% 25% 18% 11% 12%
South East 20% 20% 22% 21% 17%
South West 21% 29% 20% 19% 10%
Wales 36% 26% 20% 9%* 9%
Scotland 31% 29% 18% 14% 9%
Total GB 28% 27% 19% 15% 11%

Table source: Office for National Statistics

Table notes:

  1. Shows the share of individuals aged 16-24 living in households of differing total wealth in each region.  For example, 31% of 16-24 year olds in Scotland live in households where total household wealth  <£50,000.  
     
  2. * indicates a data point based on a small sample - such data points should be treated with some caution.

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Wealth of households that are home to adults aged 25-44.

This section examines the wealth of households in which adults aged 25 to 44 are resident.   As such this section is looking at the wealth and assets of those who are in the first half of a typical working career, with their full-time education generally having been completed, and the vast majority living in households independent of parents.

This age group are less wealthy than older age groups.  This is largely because on average less pension and housing wealth has been accumulated amongst this age group compared to older age groups.  So whilst 43% of 45-64 year olds and 31% of adults aged 65 or over live in households with total wealth greater than £500,000, the share for 25-44 year olds is lower at 17%.  

Similarly, the numbers in this age group living in households with relatively low total wealth is higher than for older age groups.  25% of adults aged 25-44 are living in households with total household wealth less than £50,000 compared to 12% for 45-64 year olds and 14% for adults aged 65 or over.

Although there are some regional differences shown in the data for 25-44 year olds, these differences are smaller than they are for older age groups.  Nevertheless, the same regional pattern as for older age groups is developing within this age group with average wealth typically highest in the South East region of England.

The South East region is the only region in which more adults aged 25-44 live in households with total household wealth greater than £500,000 (23%) than live in households with total household wealth less than £50,000 (21%).

In the North East and North West regions of England and also in Wales and in Scotland, for each adult aged 25-44 living in households with total household wealth greater than £500,000 there are two or more adults aged 25-44 living in households with total household wealth less than £50,000.

The share of adults aged 25-44 in Great Britain living in households in which the total household wealth is greater than £1 million is 5%.  The share is largest in London at 8% and lowest at 2% in Scotland, Wales and the North West of England.

Whilst the graphic shows the shares towards the top and bottom of the wealth distribution for this age group, it should be noted that for all regions/countries the majority of this age group are living in households in which total wealth is between £50,000-£500,000.  Across GB as a whole, 38% of 25-44 year olds live in households with wealth between £50,000-£250,000 with a further 20% living in households with wealth between £250,000-£500,000.  The regional variations can be seen in Table 3.

Table 3: Share of 25-44 year olds by region/country and total household wealth.

Total household wealth
<50,000 £50,000-£249,999 £250,000- £499,999 £500,000 - £999,999  £1 million or higher
North East 29% 39% 20% 9% 3%*
North West 28% 38% 20% 12% 2%
Yorkshire & The Humber 21% 48% 19% 9% 3%
East Midlands 25% 42% 18% 12% 3%
West Midlands 24% 43% 16% 12% 5%
East of England 22% 39% 21% 14% 5%
London 27% 35% 19% 12% 8%
South East 21% 31% 25% 17% 7%
South West 23% 36% 22% 14% 5%
Wales 25% 38% 23% 10% 2%*
Scotland 27% 41% 20% 11% 2%*
Total GB 25% 38% 20% 12% 5%

Table source: Office for National Statistics

Table notes:

  1. Shows the share of individuals aged 25-44 living in households of differing total wealth in each region. For example, 27% of 25-44 year olds in London live in households where total household wealth is less than £50,000.      
         
  2. * indicates a data point based on a small sample - such data points should be treated with some caution.
  3. The reference tables include a further breakdown of this data into 25-34 and 35-44 year old age bands.

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Wealth of households that are home to adults aged 45-64

Amongst the age groups examined in this report, the 45-64 year old age group live in households with the highest wealth.  This would confirm the idea that in a typical life-cycle wealth is likely to be at its greatest towards, or around, the end of an individuals working career1.

The data shows this point.  43% of adults in this 45-64 year old age group live in households with total wealth greater than £500,000 compared to just 17% of 25-44 year olds.

Similarly, the numbers in this age group living in households with relatively low total wealth is lower than for the younger adult age grouping.  Only 12% of adults aged 45-64 are living in households with total household wealth less than £50,000 compared to 25% of adults aged 25-44.

A further difference when comparing this age group to the younger adult age group is that there is a wider variation in the data between regions.  The gap between the typical wealth of residents of the South East region and the North East region, for example, are higher for this older adult age group, largely due to the impact of property wealth, for which regional disparities are large.

The share of adults aged 45-64 in Great Britain living in households in which the total household wealth is greater than £1 million is 19%.  The share is largest in the South East region at 28% whilst the share is lowest at 14% in the North West of England.

Amongst adults aged 45-64 in Great Britain, more live in households with total wealth over £1million (19%) than live in households with total wealth below £50,000 (12%).  This is particularly the case in the South East region of England (28% compared to 6%) and also the East of England and South West regions of England. 

By contrast, in the North East and North West regions of England there are more adults aged 45-64 living in households with total wealth below £50,000 than in households with total wealth over £1million.

London is unusual in having both an above average share of 45-64 year olds living in households with total wealth below £50,000 (18%) and also an above average share of 45-64 year olds living in households with total wealth above £1 million (22%). In other words it has a more hollowed out wealth distribution amongst 45-64 year olds than other regions, with higher shares at the top and bottom of the wealth distribution and therefore a smaller share in the middle.  This can be seen in the data in table 4.

Table 4: Share of 45-64 year olds by region/country and total household wealth

Total household wealth
<50,000 £50,000-£249,999 £250,000- £499,999 £500,000 - £999,999  £1 million or higher
North East 17% 28% 21% 19% 15%
North West 15% 23% 23% 25% 14%
Yorkshire & The Humber 11% 23% 28% 22% 17%
East Midlands 10% 24% 25% 26% 16%
West Midlands 13% 25% 22% 24% 16%
East of England 8% 18% 26% 28% 20%
London 18% 17% 21% 21% 22%
South East 6% 15% 21% 29% 28%
South West 9% 17% 29% 26% 19%
Wales 12% 25% 28% 19% 17%
Scotland 14% 25% 23% 23% 16%
Total GB 12% 21% 24% 24% 19%

Table source: Office for National Statistics

Table notes:

  1. Shows the share of individuals aged 45-64 living in households of differing total wealth in each region. For example, 15% of 45-64 year olds in the North East region live in households where total household wealth is greater than £1 million.     
  2. The reference tables include a further breakdown of this data into 45-54 and 55-64 year old age bands.

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Notes for Wealth of households that are home to adults aged 45-64

  1. In addition to life cycle effects, the data is also influenced by cohort effects, such that particular generations can be favoured or disadvantaged by impacts such as the timing of house price increases or the relative generosity of private pension schemes. It is not, however, possible to disentangle the relative importance of these life-cycle and cohort effects when using cross-sectional data such as in this analysis.

Wealth of households that are home to adults aged 65 or above

Not all adults stop working aged 65, but in general in this age group the majority of individuals are no longer active in the labour market.  For some within this age group, wealth is slowly reduced over time as they begin to draw down their pension wealth. However, it is also possible for household wealth to increase within this age group, for example due to rising property wealth or rising financial wealth from investments.

In general, the data suggests that this age group retains relatively high levels of wealth.  For example, 31% of adults aged 65 and over live in households with total household wealth greater than £500,000.  This is lower than the 43% of 45-64 year olds living in households of similar wealth, but higher than the 20% of 0-15 year olds and 17% of 25-44 year olds.

The share of adults aged 65 or over in Great Britain living in households in which the total household wealth is less than £50,000 is 14%.  This is slightly more than the share amongst adults aged 45-64 (12%) but quite a bit less than amongst those aged below 45.

The regional variations are quite large amongst this age group.   Almost 1 in 4 of adults aged 65 and over live in households with total wealth less than £50,000 in the North East region. By contrast, in the South East, South West and East of England regions, the equivalent share is just 1 in 10.

The share of adults aged 65 or over living in households with total wealth greater than £1 million is 10%.  In the South East the share is 17% and in Scotland and the North East and North West of England the share is 6%.

The South East, South West, London and East of England regions have larger shares of adults aged 65 or over living in households with total wealth over £500,000 or £1 million than other regions/countries.   For the South East, South West and East of England this is accompanied by relatively low shares living in households with total wealth below £50,000.   In London, by contrast, there is a hollowed out distribution with a relatively high share of 65 or over individuals living in households with total wealth below £50,000 as well as in households with total wealth >£500,000 or £1million.

Wealth amongst the 65 and over age group is lowest in the North East region.  Its share of  65 and over individuals living in households with total wealth below £50,000 is quite a bit higher than other regions and it is the only region in which more 65 and over individuals live in households with total wealth below £50,000 than in households with total wealth greater than £500,000.

Whilst figure 4 above shows the shares towards the top and bottom of the wealth distribution for this age group, it should be noted that for all regions/countries (except London and the South East region) the majority of this age group are living in households where total wealth is between £50,000-£500,000.  Across GB as a whole, 26% of people aged 65 or over live in households with wealth between £50,000-£250,000 with a further 29% living in households with wealth between £250,000-£500,000.  The regional variations can be seen in Table 5.

 

Table 5: Share of 65+ year olds by region/country and total household wealth.

Total household wealth
<50,000 £50,000-£249,999 £250,000- £499,999 £500,000 - £999,999  £1 million or higher
North East 24% 30% 25% 15% 6%
North West 16% 32% 28% 17% 6%
Yorkshire & The Humber 16% 36% 28% 15% 7%
East Midlands 12% 27% 32% 20% 9%
West Midlands 13% 31% 29% 19% 7%
East of England 10% 25% 27% 26% 11%
London 21% 19% 22% 23% 14%
South East 10% 18% 28% 27% 17%
South West 9% 20% 34% 25% 11%
Wales 12% 28% 35% 16% 8%
Scotland 18% 34% 25% 18% 6%
Total GB 14% 26% 29% 21% 10%

Table source: Office for National Statistics

Table notes:

  1. Shows the share of individuals aged 65 or above living in households of differing total wealth in each region. For example, 21% of 65+ year olds in the London region live in households where total household wealth is less than £50,000.      
        
  2. The reference tables include a further breakdown of this data into '65-74' and '75 and above' age bands.

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Types of Wealth

This article focuses on the total wealth of a household, which is a net wealth measure for each household created by adding together the different types of household wealth; property wealth (net), financial wealth (net), physical wealth and private pension wealth. It should be noted that it does not include business assets, accrued rights to state pensions or assets held in Trusts.

Below is a brief description of each together with their influence on wealth by age and region.  Data for each is available in the accompanying reference tables.

Net Property Wealth.

The gross value of household property (comprised of the value of the main residence for a household and the value of any additional property or properties owned by the household) and the value of mortgages (liabilities) are combined to report on net property wealth (gross assets minus liabilities).  In other words, a household that has fully paid off its mortgage will have higher property wealth than a household in a similarly valued house that still has mortgage liabilities to pay.

Across GB as a whole, 28% of individuals live in households with zero property wealth and 1% in households with negative property wealth.   The share of individuals who live in  households with property wealth greater than £250,000 is 17%  (including 4% who live in households with property wealth greater than £500,000).

Property Wealth tends to increase with age.  The share of individuals in Great Britain who live in households with property wealth greater than £100,000 is 33% for 25-44 year olds, 63% for 45-64 year olds and 67% for those aged 65 or over.

Property wealth is an important aspect in explaining different regional wealth outcomes, particularly amongst older age groups. This can be seen for example by examining the data for individuals aged 65 or over.   The share of individuals aged 65 or over living in households with net property wealth over £250,000  is 41% in London, 38% in the South East, 32-33% in the East of England and the South West; but only 10-15% in the North East, North West, Yorkshire and The Humber, Scotland and Wales.

Data can be found in the reference tables.

Pension Wealth.

This covers private pension wealth. Private pensions are all pensions that are not provided by the state. They comprise occupational and personal pensions, and include pensions of public sector workers.  Note that for most people aged below 65, pension wealth differs from other types of wealth in that it is an entitlement to receive an income in future, rather than wealth available to utilise in the present moment.

Pension wealth is responsible for 47% of wealth in Great Britain (compared to property wealth 33%, financial wealth 11% and physical wealth 9%).  Pension wealth is a major influence in explaining the difference in total wealth amongst individuals with 11% living in households that have pension wealth greater than £500,000 whilst 23% live in households that have zero pension wealth. Within regions, therefore, pension wealth is a key determinant of the differences in total wealth across households.

However, whereas the distribution of property wealth shows marked regional differences, the distribution of pension wealth shows less regional variation.  For example, the share of 45-64 year olds living in households with pension wealth greater than £100,000 varies from 52% (London and North East) to 63% (South East) across regions.  By contrast, the share of 45-64 year olds living in households with property wealth greater than £100,000 varies from 48% (North East) to 76% (South East).

Net Financial Wealth. 

Financial Wealth comprises formal financial assets (such as bank accounts, savings, stocks & shares and other recognised savings vehicles), informal financial assets (such as borrowing from family), assets held by children in the household and liabilities (such as formal borrowing, overdrafts & debts). The gross value of financial assets is considered first, followed by the value of debts and other liabilities. These are then combined to produce estimates of net financial wealth (gross assets minus liabilities).  Note that mortgages are not included in this section – they form a liability in the property wealth category.  Student loans, however, are included in the liabilities within this section.

Net financial wealth can be negative and this is the case for households that are home to 27% of individuals in Great Britain.  This varies from 21% in Scotland to 35% in the North East.  Negative financial wealth is most common amongst younger age groups with 35% of individuals aged 25-44 living in households with negative financial wealth (the corresponding figure for those aged 65 or over is 6%).

Net financial wealth is not typically as large a source of household wealth as property and private pension wealth.  However, 18% of 45-64 year olds do live in households with financial wealth greater than £100,000.   This proportion varies from 11% in the North East to 27% in the South East.

Physical Wealth.

Physical wealth is derived from respondents’ own estimates of the value of the contents of their main residence, the contents of any property which the household owns other than main residence and also collectables, valuables, vehicles and personalised number plates. All estimates of physical wealth are given on a gross basis.

The variation amongst households in terms of physical wealth is not as large as for the other wealth categories.   Over half of individuals in all regions live in households in which physical wealth is between £10,000 and £50,000 whilst only a relatively small share (6%) live in households with physical wealth above £100,000.

Regional differences are not too large, although London has a higher share of individuals living in households with less than £10,000 of physical wealth compared to other regions.

Summary (reprise)

Alongside this article, a shorter summary has been published based on the same data and analysis.  However, it does include some tables not in the main article that summarise the data in a slightly different way.  Therefore, to ensure readers of the article are also able to view these tables, the summary is reproduced in the rest of this section.  The data underlying the tables is available within Tables 1-5 in the article or via the reference tables.

Summary

Data on household wealth in Great Britain shows that different age groups typically live in households that have accumulated different levels of wealth.  There are also regional differences in wealth across Great Britain.  Using data from the second wave of the ONS’ Wealth and Assets Survey (2008-2010), it is possible to see how these factors of age and region influence the distribution of wealth.

Table A shows the share of individuals in different age groups, who live in households  with total household wealth  exceeding £500,000 .  The influence of both age and region is apparent.   Amongst 45-64 year olds in the South East region of England, 57% live in households with total household wealth greater than £500,000.   However, for the North East region, amongst the same age group, this proportion is only 34%.  Meanwhile, only 11% of adults aged 25-44 and 13% of children aged 0-15 in Yorkshire and The Humber are living in households with similar wealth (>£500,000).

Table A: Percentage share, by age and region, who live in a household with total household wealth greater than £500,000

Age group  Great Britain Share  Highest Regional/Country Share  Lowest Regional/Country Share 
0-15  20% 29% (South East) 13% (Yorkshire and The Humber)
16-24  26% 38% (South East) 18% (Wales)
25-44  17% 23% (South East) 11% (Yorkshire and The Humber)
45-64  43% 57% (South East) 34% (North East)
65 and over  31% 44% (South East) 21% (North East)

Table source: Office for National Statistics

Table notes:

  1. Interpreting the table - it  is showing, for example, that 44% of individuals aged 65+ in the South East live in households with total household wealth greater than £500,000.

  2. The 16-24 age group will include a mix of household types, for example some individuals living in households with parents and others living in households independent of parents.

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At the lower end of the wealth distribution, Table B shows the percentage share of individuals in each region/age group who live in households with total household wealth less than £50,000.  Amongst the older age groups in some regions the share is relatively low.  For example, just 6% of 45-64 year olds in the South East live in households with wealth below £50,000 as do just 9% of those aged 65 or over in the South West region.

However, there is some evident variation by region. In the North East region, almost one in four adults aged 65 or over live in households with total wealth less than £50,000 whilst for children aged 0-15 the share in London is 41%.

Table B: Percentage share, by age and region, who live in a household with total household wealth less than £50,000

Age group  Great Britain Share  Highest Regional/Country Share  Lowest Regional/Country Share 
0-15  30% 41% (London) 22% (South East)
16-24  28% 43% (North East) 20% (South East)
25-44  25% 29% (North East) 21% (South East)
45-64  12% 18% (London) 6% (South East)
65 and over  14% 24% (North East) 9% (South East)

Table source: Office for National Statistics

Table notes:

  1. Interpreting the table - it  is showing, for example, that 24% of individuals aged 65 and over in the North East live in households with total household wealth less than £50,000.
  2. The 16-24 age group will include a mix of household types, for example some individuals living in households with parents and others living in households independent of parents.

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Pension wealth and property wealth are the most likely sources of wealth to differentiate those at the top and bottom of the wealth distribution. Whilst there is regional variation in both, the regional variation is larger for property wealth.

Background notes

  1. Details of the policy governing the release of new data are available by visiting www.statisticsauthority.gov.uk/assessment/code-of-practice/index.html or from the Media Relations Office email: media.relations@ons.gsi.gov.uk

Get all the tables for this publication in the data section of this publication .
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