Relative wealth mobility

Information on the relationship in wealth between people and their parents.

  1. Summary main findings
  2. About the data

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.