The analysis of the Resolution Foundation indicates that one in every 10 homeowners has a second property in addition to their main home.

The wealth divide began in the UK in 2015 as a result of increasing housing prices in London and southeastern region. The bigger increase of wealth was reported in London, Scotland, and southeastern region. According to Barclays Bank, the number of millionaires in the UK increased 41% - 200,000 in 5 years with the recovery of the stock market after 2007 and rising property prices.  

The rise in millionaires increased wealth inequality, especially in London, which has one third of the country’s millionaires. The Guardian says London is the richest city in the UK but it also has the most poor people. London has the world’s most expensive houses and also the most people who don’t have houses. From 2012 to 2014, the richest had 117 times more property than the poorest.

Secretary General of the Trade Union Congress Frances O’Grady says that hard work is being paid too little and property owners are earning too much. Wealth inequality in the UK is increasing because the rich become richer and is starting to cause a lot of problems. The Center for European Reform (CER) recently warned that the UK’s departure from the EU will further widen the gap between regions in because poor, export-dependent localities will be most affected.