The number of millionaires in the UK is set to triple over the next couple of years, boosted by the recent rise in house prices, says the Centre for Economics and Business Research.
The independent consultancy CEBR suggests there is likely to be 760,000 millionaires in the UK by 2010, compared with just 230,000 in 2001. Furthermore, it believes there will be around 1.9m millionaires by 2020. The figures come ahead of CEBR's release of its annual publication, 'Housing Futures' , next week, suggesting the increase in wealthy Britons is related to the rise in the property market. Douglas McWilliams, author of the report and CEBR chief executive, says the average UK homeowner who retired in 1990 would have had £62,055 of housing wealth - that is, the difference be...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
