The London borough of Kensington and Chelsea is the first area in the UK to break through the 100,000 level for average household earnings, according to Barclays’ latest wealth survey.
Average household earnings in the borough are now 101,600, up 7 per cent on last year and over 20,000 higher than the next richest area.
The cities of London and Westminster came second with an average income of 81,425 followed by Hampstead and Highgate with 77,500.
Beaconsfield in Buckinghamshire was the wealthiest place outside London with an average household income of 74,345 and Tatton in Cheshire the wealthiest outside the South-east at 62,350. The Cotswolds is the fastest-growing wealthy area with average household income up by 9 per cent to 60,800.
Barclays Premier Banking managing director Bret Packard says: “High incomes are no longer unusual in the UK. There are now one million individuals in the UK earning over 100,000 a year. The vast majority, although cash-rich are time-poor and are increasingly looking for services that help them deal with important issues such as their finances while they devote that precious time to other things.”