More millionaires created from house price boom than from lottery

It has been revealed that a greater number of millionaires have been created in Britain as a result of the house price boom than as a result of the National Lottery. In fact, according to reports over the past decade and a half twenty times more millionaires have been spawned from the boom in property prices than through the luck of the draw in the National Lottery. The study was carried out by High Street bank HSBC as the nationwide prize draw celebrated its fifteenth year. Read more

Tags: housing market, london, Lottery, Wealth, property prices, Millionaire, money, National Lottery, property consultant

£31,000 fall in average household wealth

It has recently been reported that average household wealth in the UK has fallen by around £31,000 since last year, with households seeing their household wealth drop as a result of the global credit crunch and the ongoing recession. Read more

Tags: factor, household wealth, billions, property prices, homes in addition, Wealth, bank, Household