The wealth of the richest one per cent of households is more than 230 times that of the poorest ten per cent, according to new data from the Office of National Statistics (ONS).
The top one percent of households have wealth of more than £3.6m each and hold 43 per cent of all the wealth in the UK.
This is compared to the household wealth of £15,400 or less for the poorest ten per cent.
Of this group, almost half of the households held more financial debt than they did assets.
Using the period between April 2018 and March 2020, ONS’ data showed that the bottom 50 per cent of the population hold only nine percent of the country’s wealth.
The median wealth in the South East was the highest in the country, at £503,400. This figure – once adjusted for inflation – has risen by 43 percent since 2006.
Comparatively, the median household wealth in the North East was £168,500.
The figures come as UK households start to feel the pinch of rising inflation and energy bills, as the economy continues to feel the strain of the pandemic.