New estimates of local wealth from Oxford Economics
A lot of data exist regarding local differences in household income levels, but very little on differences in wealth. But the latter are very important in understanding the resilience of local economies, opportunities, and spending behaviour. To address this, we have produced wealth estimates at the local authority level for England and Wales. Our estimates show that there are large disparities in wealth within and between local areas, especially, but not only, in London.
What you will learn:
- Based on granular data sources and an artificial intelligence model, our method allows us to identify where the wealthiest households are concentrated and how they are distributed. Our analysis also provides insights into the composition of household wealth.
- We find pockets of affluence in regions where wealth holdings are generally low including Stratford-on-Avon Trafford near Manchester. Harrogate in Yorkshire has relatively high pension wealth.
- We estimate that the highest degrees of wealth inequality are in London and other cities such as Manchester and Bristol.
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