Household wealth tops £9.5 trillion

Elizabeth Fournier
THE TOTAL wealth of all private households in Great Britain topped £9.5 trillion between 2010-12, new data showed yesterday, with private property and pensions making up the bulk of Britons’ assets.

According to the Office for National Statistics (ONS), half of all households had total wealth of £218,400 or more during the two year period to the end of 2012, based on the sum of net property wealth, net financial wealth, physical wealth and private pension wealth.

Private pensions made up the largest part of household wealth, accounting for 39 per cent (around £3.5 trillion) of the total, followed by property, which made up 38 per cent.

The aggregate net property wealth for all households grew by £149bn (four per cent) from the 2008-10 period, but remained below its 2006-08 high of £3.53 trillion.

The survey also revealed that seven per cent of British households had splashed out on a personalised number plate, and that 11 per cent owned property other than their main residence.

According to the data, the wealthiest 10 per cent of households owned 44 per cent of total household wealth in 2010-12, while the least wealthy half of households combined owned nine per cent of total wealth.