Overview

• Resolution Foundation analysis of ONS data shows household wealth at about £17 trillion in 2020–22, with £5.5 trillion in property and £8.2 trillion in pensions.
• The years of median earnings needed to move from the middle to the wealthiest tenth rose from 38 in 2006–08 to 52 in 2020–22, with an average gap of £1.3 million.
• Most recent gains came from rising house prices and pension valuations, disproportionately benefiting older, homeowning households and widening intergenerational divides.
• Wealth mobility is low, with 76% of people from lower‑income families moving no more than one decile over four years after accounting for age effects.
• Ahead of November’s budget, the foundation cautions that higher wealth taxes would likely fall on pensioners and southern homeowners rather than solely on the ultra‑rich.