Relative wealth mobility
Information on the relationship in wealth between people and their parents.
Summary main findings
A 10% increase in parents' wealth is associated with around a 3% increase in their children's wealth at a similar stage of life.
Although data is limited, it seems plausible that relative wealth mobility is worsening along with relative housing mobility.
About the data
Data source
Office for National Statistics, Wealth and Assets Survey (WAS)
Time period
2016 to 2020 (combined)
Geographic area
England, Scotland and Wales
What the data measures
The data estimates the relationship between the wealth of 25 to 64 year olds in England, Scotland and Wales and their parents.
Wealth is the value of different types of assets owned by households minus any liabilities, such as mortgages.
It includes:
- property wealth, including the value of property minus any mortgage owed
- pension wealth, including the value of occupational and private pensions
- physical wealth, including the value of household contents, valuables and vehicles
- financial wealth, including the value of financial assets
Things you need to know
The survey does not directly measure the wealth of respondents’ parents.
Respondents were asked about their parents’ housing and education. Estimates of parents’ wealth are based on the relationships between education, home ownership and wealth.
Data is adjusted for inflation, and weighted using WAS individual weights.
Type of data
Survey data
Full report
Read more in State of the Nation 2023 on GOV.UK.