The study by the Office for National Statistics (ONS) looked at regional differences in disposable income across the UK and found the top five wealthiest places were in London in 2020, the most recent date for which data was available.
Kensington and Chelsea, and Hammersmith and Fulham remain the richest places in the UK, unchanged from the previous year.
The ONS produced the analysis based on gross disposable household income (GDHI), which is the amount of money that all the individuals in the household sector have available for spending or saving after they have paid direct and indirect taxes and received any direct benefits.
People living in Kensington and Chelsea, and Hammersmith and Fulham have on average £60,277 a year to spend or save – nearly three times the UK average of £21,440.
Despite being far wealthier than the rest of the UK, the richest areas of London have seen their wealth decline the most, with Westminster losing 8.6%, Camden and the City of London at 6.0%, followed by Barnet at 2.2%.
The only place outside of London to see a large decline in income was Buckinghamshire, which lost 2.1%.
The ONS said this decline was largely driven by a decline in property income, which has declined by 21% despite recent sharp rises in the price of rent.
On the other end of the scale, people in Nottingham had just £13,952 to spend or save.
In total 95 of 179 areas saw an increase in GDHI per head between 2019 and 2020.
By comparison, 175 of the 179 areas saw an increase in GDHI per head between 2018 and 2019.
The ONS said this change was due to the COVID-19 pandemic which affected local areas in different ways.
The government increased several benefits, most notably Universal Credit, at the outset of the pandemic to support increased unemployment.
Places like Westminster, which had a large number of renters, saw steep declines as people moved out of central London as the nation moved to working from home.
The five richest areas are:
Kensington and Chelsea, and Hammersmith and Fulham
The majority of the areas in the bottom five are in the Midlands. Nottingham came out as the poorest area in the country. Figures suggest the GDHI per head was only £13,952. Meanwhile, the top five best earnings neighbourhoods are all London-based.
Between 2019/20 and 2021/22, the West Midlands had the highest rate of poverty at 27%, followed by the North East and London (both 25%), Yorkshire and The Humber, the East Midlands and the North West (all 23%).
Which is the richest county in the UK? Surrey in South East England, takes the top spot as the richest county in the UK with a total property worth of £287.6 billion.
The UK's 'most deprived town' is filled with gutted homes, streets lined with poo and litter and locals say they've had enough. It's raining hard as I get off the bus in Jaywick, a seaside town in Essex known as the "poorest place in the UK".
Historically, household income across the UK has varied significantly between regions and countries, ethnic groups, and the disability status of households. The West Midlands (£553) had the lowest median income before housing costs in 2020/21 to 2022/23, while London (£735) had the highest.
After housing costs are taken into consideration, the poverty rate in London is 24%, the third highest of the English regions following the West Midlands (27%) and the North West (25%) of England.
The North West outranks London for self-made super-rich
The North West in particular, is a haven. Almost a quarter (22%) of Britain's wealthiest self-made millionaires and billionaires hail from the region, compared to just 19% from London (and with a population of almost one million less than the capital).
Wealth per head in 2023 prices, £ thousand, by English region. It finds that the highest level of wealth exists in the south-east of England, with average wealth per head being £415,200 – around £195,400 more than the north's £219,750.
There are very high poverty rates for some groups in the UK: 67 per cent of Bangladeshi and 58 per cent of Pakistani children live below the poverty line, as do 51 per cent of Black children.
Nottingham, once known for its thriving lace-making, textile industries, and manufacturing, has a rich industrial history dating back to the 18th century. However, recently, it has been labelled as the UK's poorest city, with its residents having less disposable income than those in any other UK city.
The proportion of households living in income poverty fell from 27% in 1994-97 to around 23% from 2009-12 onwards. in Wales remains higher than in England, Scotland and Northern Ireland and has been the case for much of the past ten years.
The precariat, about 15% of British society, shows poor economic capital, and the lowest scores on every other criterion. Although some members of this class are unemployed, many hold jobs.
Tower Hamlets remains highly deprived relative to other London Boroughs. Tower Hamlets is the most deprived borough in London on three of the five summary measures (the average score, the extent and the most deprived ten per cent measures).
However, based on the more detailed ethnicity classification of Asian or Asian British employees in England and Wales (see Figure 2), Chinese and Indian employees had higher earnings compared with White British employees, while Bangladeshi and Pakistani employees earned less compared with White British employees.
Results Of the constituent countries of the UK, Northern Ireland was the most deprived with 37% of the population living in areas in the most deprived fifth of the UK, followed by Wales with 22% of the population living in the most deprived fifth of the UK. England and Scotland had similar levels of deprivation.
Holme Fen. Holme Fen, specifically Holme Posts, is believed to be the lowest land point in Great Britain at 2.75 metres (9.0 ft) below sea level. Before drainage, the fens contained many shallow lakes, of which Whittlesey Mere was one of the largest.
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