Median wealth for UK households has been lifted by £293,700 in pandemic savings, but the latest official data shows consumers are concerned about the cost of living and housing.
In the period April 2018 to March 2020 and April 2020 to March 2022 to March 2022, median household financial savings jumped by 25% to £10,400. 
The bodies were released during the pandemic “when governments imposed varying levels of restrictions on social contact, in addition to closures of stores, restaurants, bars, and other recreational activities.” states that “household savings rates have reached their peak.''
The richest 10% of households had household wealth of more than £1,200,500, says the department, which focuses on the two years to March 2022.
The richest 10% of households had less than £16,500.
By region, the biggest differences are seen in the South East at £489,800 and the North East at £179,900.
Wealth accounted for the largest proportion of these amounts, amounting to 40%, followed by private pension wealth, 35%, followed by net financial wealth, 14%.
Household wealth was 33 times higher in households with a head aged 65 to 74 compared to households with a head aged 16 to 24.
The body states: “Household wealth gradually increased with age, from £15,200 for heads aged 16 to 24 to a peak of £502,500 for heads aged 65 to 74.”
Sarah Coles, head of personal finance at Hargreaves Lansdowne, said:
“It has swung among young people who have almost tripled their financial wealth and taken home an average of £800. There was little to give.
Stephen Lowe, director of Just Group Communications, added: “Median household wealth continues to be easily driven by rising house prices, primarily because homeowners have significantly increased their wealth during the pandemic and are covered in this data.” However, within this general trend, photography is still mixed.
“There is a clear divide between areas where real estate prices are high and demographic groups such as retirees where homeownership is high.
“Perhaps most notable is the wealth chasm between homeowners and renters, with median financial wealth reaching £55,300 in 2020-2022, compared to just £900 for renters. These are people who take full ownership of their growth.”
However, today's Further Office for National Statistics data shows that, according to public opinion and social trends, households do not feel financially secure.
Body of Numbers found that 86% of people rate the cost of living as one of the “key issues facing the UK today”. The housing crisis was assessed by 60% of those asked. The biggest concern is the NHS, at 88%.
About 6 in 10 adults, or 57%, reported their cost of living increased during the month through the beginning of January.
About 3 in 10 adults who pay rent or mortgage payments reported that they find it very difficult to afford those payments. A similar proportion, 32%, reported finding it very or somewhat difficult to afford their energy bills.
