Credit Card News City Of London Streets Are Paved With Gold Says Natwest Black Card
24 June 2005
The streets of the City of London really are paved with gold: research from NatWest Black Card found that the Square Mile is home to the highest proportion of high earners.
The Nat West Black Card Wealth Map found that 15 per cent of the wealth of the whole of the UK is held in London, and within the capital, the City of London has the largest number of super-wealthy residents.
Just under nine per cent (8.87 per cent) of those who live in the Square Mile earn at least £100,000 a year, whilst the average household income is £52,469.
The second richest London borough is the exclusive area of Richmond upon Thames, where 5.22 per cent of residents earn more than £100,000, and the average householder enjoys an income of £44,006 a year.
“NatWest Black Card’s report confirms that the majority of high earners still prefer to be based in the south east,” commented Jason Butler, certified financial planner at Bloomsbury Financial Planning.
“London offers the greatest business opportunities, particularly international business and has a worldwide reputation; there is a huge pool of highly skilled professional and financial related staff and highly paid jobs for them to do; and London is a great place to live and work with a tremendous depth of culture, wide choice of entertainment and great socialising.”
The City of London may be the overall richest, but Wandsworth is actually home to the highest absolute number of households with an income of more than £100,000, chiming in at 5,398.