Surveys

UK Incomes Surge – But Property’s Still Ahead

Nick Parmee 24 August 2007

UK Incomes Surge – But Property’s Still Ahead

The number of people in the UK earning over £100,000 ($200,000) a year has risen in two years from 411,000 past the million mark, according to a recent survey by Barclays - and in the London borough of Kensington and Chelsea the average household income has topped six figures for the first time at £101,600, with City of London and Westminster second at £81,425 and Hampstead and Highgate third at £77,500. The top ten are all in or near London: the wealthiest place outside the south-east is Tatton in Cheshire, which ranks 13th nationally. But even the K&C income would be insufficient to buy a family home in that borough: the average property price is over £750,000 - and has grown over 13 per cent in the last twelve months, according to property investment advisors London Central Portfolio.

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