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Category Archives: Household wealth

Homeowners paying off mortgages at record rate

In 2010, homeowners paid back over £24bn of their mortgage borrowings, which was the highest amount since records began in 1970. Detailed figures from the Bank of England also showed that £7bn was repaid in the final quarter of 2010, compared to £6.6bn in the third quarter. This means that mortgage repayments have exceeded borrowings for eleven consecutive quarters. This … Continue reading

Posted by Nigel Tree | Leave a comment

Household wealth rises five-fold over the past 50 years

Household wealth in the UK has risen from £1.251 trillion in 1959 (measured in today’s prices) to £6.316 trillion by the end of last year. This represents a five-fold increase in household wealth according to new research by the Halifax. This gives an average value of wealth per household of £236,998 which is up from £72,719 in 1959. This rise … Continue reading

Posted by Nigel Tree | Leave a comment