October 26, 2021
The pandemic has left British families $1.2 trillion richer

The pandemic has left British families $1.2 trillion richer

According to the September 7 report, real estate prices began to grow again. Photo: Getty Images.

  • The total wealth of British families has increased by £890 billion;

  • At the same time, the UK experienced its worst moment in terms of public health, employment and the economy.

  • This estimate comes in part from the record expansion of the real estate sector in the country.

The United Kingdom has seen the total wealth of British families increase by about 890 billion pounds, equivalent to 1.2 trillion dollars, since the beginning of the pandemic. The 6% increase was accompanied by a paradox, as it was the worst moment for public health, job security and the economy. However, the best phase of wealth creation occurs only if the assets are held.

During the COVID-19 pandemic, the UK had the highest death toll in Western Europe, which experienced the worst recession among the G7 economies.

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The rise comes in part from the country’s record boom in the property sector, which has driven up asset prices for the average Briton. We haven’t seen that kind of growth in the recession since the 1950s.

According to Credit Suisse’s July report, global stocks posted record growth of $80,000 per adult.

After leaving the European Union, the country finds itself in a prominent political and social situation. The main business of the government is to stimulate the regions and economic results.

According to the September 7 report, real estate prices began to grow again. The main reasons are low interest rates, scarcity of supply, savings accumulated during lockdowns and demand for properties far from major cities.

according to Financing the decisionOn average, the wealthiest British families had increased their wealth by more than £50,000. For the poorest 30%, the average grew by just 86 pounds per adult.

Real estate values ​​increased by up to 13%, including investments in pensions, which resulted from increased property market gains. Compared to the financial crisis of 2008, real estate prices fell by 15%.

Information from Exame.