South East remains the second most prosperous region in the UK with increases in GDP and earnings.
More than half (56%) of people in the South East earn above the national average, with Guilford leading the way with 63%. This is the highest percentage across all regions in the UK. Alongside this increase in wealth, people in the region are spending more, 16% higher than the UK average, and in Guildford the figure is even higher at 45%.
Household wealth in the South East grew rapidly by 11% since last year’s study. Faster growth was only achieved in Scotland and London with 13% and 12% respectively.
House prices in the region increased by 11% and GDP per capita grew by 11.3% year-on-year.
The number of millionaires in the region reduced slightly by 5.7%, from a population of 157,000 to 148,000, in line with the wider UK trend.