The online version of a UK newspaper has issued an article about the property boom in the UK. The article cited a major bank, which reported that the total wealth of the UK now exceeds ten trillion pounds, up from 892 billion pounds last year. The article noted that there was an inequity in wealth, as only one tenth of the nation owns half of the properties, while fifteen per cent owns nothing. The article is accompanied by a photo of fine homes.
Key Takeaways:
- An overall escalation in UK household wealth is attributed equally to property values and the financial markets.
- Unfortunately surveying suggests that only a tenth of the nation’s adults actually have a half of the nation’s overall wealth.
- It’s also been supported by surveyors, that 15% of the nation’s adults either own nothing, or have negative wealth.
“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.”