| Household Wealth Falls By 12% |
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2008 saw the wealth of the average UK household fall by £31,000, or 12% thanks to the credit crunch and the recession. Falling house price reduced the UK's wealth by £422 billion and falling share prices reduced wealth by £393 billion. So far for 2009 wealth is regaining some lost ground – house prices are now stabilising and share prices have increased significantly since March and the FTSE 100 is now above 5000 points. The number of job losses have also began to slow. |