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Who wants to be a millionaire? |
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A new report by the Centre for Business and Economics Research revealed that one in 20 households in London are worth £1m or more.(See stories in The Herald, The Daily Telegraph and on BBC).
The Centre said that it was the 64% increase in house prices since 2001 that had led to almost a doubling of the number of millionaires in just three years. There are likely be as many as 425,000 millionaire households in the UK.
Fewer than 1% of the UK's millionaires live in Northern Ireland, while 41% live in London. The large proportion of millionaires living in the South West mirrors the tendency in the development of housing prices as described in the Henry George Foundation's quarterly Land Value Monitor.
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