Wealthy Londoners defy slump

Wealthy Londoners are defying the downturn to add to their property and stock portfolios, according to figures seen by City A.M. Fifty-one per cent of wealthy Londoners have property investments, numbers from Lloyds TSB Private Banking showed, on average holding £465,062 in October last year, up 19 per cent compared to the previous September. Next most popular after housing were equities, which those with wealth of over £250,000 put an average of £191,400 into, again up 12 per cent over the year.