London is home to over 40 per cent of the UK’s just-over 10,100 ultra high net worth individuals with net assets of over $30 million - over double the volume of ultra-wealthy people in the whole of France (3,800), new research shows.
Outside of London, Manchester has the highest number of UHNW individuals (170), followed by Glasgow (158), Edinburgh (134), and Birmingham with 130 - even though it is the second largest city in the UK.
Lucian Cook, director of the residential research department at estate agents Savills, said that while he could understand UHNW individuals living in the towns surrounding Birmingham, he "struggled to see the attractions of England's second biggest city", the UK's Guardian reported.
With regards to UK counties, Greater Manchester (Manchester, Bolton, Wigan and Salford) contains the highest number of UHNW individuals (aside from London), with a total of 374. Next is Surrey and Hertfordshire, with 230 and 206 respectively.
The findings from WealthInsight showed that UK’s 10,100 UHNW individuals have a combined wealth of $1,113 billion. Meanwhile, in terms of high net worth population, the UK ranks sixth, according to the World Wealth Report 2012.