Total UK wealth tops £10tn thanks to City and property boom
A booming City and rising house prices provided a double boost to Britons holding assets in 2016 as they pushed the nation’s wealth through the £10tn mark, according to a new survey.
Lloyds Bank’s private banking arm said total household wealth in the UK increased by £892bn last year – with the property and financial markets each responsible for half the rise.
News of the 9% jump in the value of the assets from £9.6tn to £10.5tn during 2016 is likely to rekindle the debate about the UK’s wealth inequality. Previous surveys have shown that a tenth of adults own half the nation’s wealth, while 15% own nothing or have negative wealth.