According to research by Lloyds Bank Private Banking, household wealth has grown by its largest annual amount in a decade.
With individual households typically seeing their wealth grow by £96,000 in the last 10 years to reach £280,787, Ashish Misra, head of investment policy at Lloyds Bank Private Banking, said:
In the past year household wealth grew by £717 billion, the largest annual rise in the decade
Increasing activity in the housing market and continued growth in equity prices has boosted household wealth. These figures, to an extent, provide further evidence that the recovery in the UK economy is gathering pace.
More top news
A 16-year-old boy has been arrested on suspicion of terror offences as he prepared to leave the UK.
An man is reported to have wounded at least five people - two seriously - in an attack in the Swiss town of Schaffhausen.
Donald Trump's son-in-law has denied any improper conduct during four contacts with Russians during and after the presidential election.