Household wealth increased five fold in the past 50 years
People looking for property to rent in the London borough of Enfield may be interested in new figures that suggest household wealth has increased in the past 50 years.
However, the data from Halifax revealed that it has decreased by 15 per cent during the recent economic downturn between 2007 and 2008.
Its economist Nitesh Patel said the increase over the half-century was in part due to privatised industry as well as liberalised financial markets, but noted that the dip since 2007 may have been down to drops in the value of homes and shares.
"Nevertheless, much of this was recouped in 2009 as both house and equity prices recovered somewhat and notably household wealth has still risen over the past decade," he added.
This follows the Council of Mortgage Lenders which stated its concern about the vulnerability of people who own a property having their home repossessed and possible ramifications in the event of further economic uncertainty.
By Ben Carter
Published 17th May, 2010
© 2010 Estates IT Limited
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