If you’re young and in the northeast, wealth inequality bites hard

A typical family in the southeast of England is halfway towards achieving millionaire status. In the northeast, by contrast, median household wealth is £168,500, writes Hamish McRae

Overall, the largest single source of wealth is a pension, not property (PA)

Here’s a question: what is the median household wealth in Britain – the wealth of the middle household, with as many richer households on one side and as many poorer ones on the other?

The answer from the Office of National Statistics (ONS) was published on Friday, and it’s £302,500. That is for the whole country. For a household in the southeast, however, the median household is worth £503,400.

So, a typical family in the southeast of England is halfway towards achieving millionaire status. In the northeast, by contrast, median household wealth is £168,500.