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More millionaires migrated to the UK between 2003 and 2013 than to any other country worldwide, and London topped the rankings for millionaire residents in a single city.
A net flow of 114,100 dollar millionaires flocked to the UK over the decade in question, taking the country’s total to 815,000, or 13 people per 1,000 residents.
More than 60 per cent of millionaires moving to the UK since 2003 were from Europe, according to the report compiled by specialists in wealthy individuals, New World Wealth. The figures exclude the value of primary residences.
Members of the professional middle class in England and Wales have seen a rapid decline in their options when looking for a place to buy a house. The number of electoral wards where the average property price is above the affordability threshold has risen from just 101 (1.1 per cent) in 1995 to 489 (5.7 per cent) in 2012.
London is getting younger. In contrast, the UK as a whole is getting older.
At least since Michael Goldfarb’s incendiary op-ed in the New York Times, there has been discussion about a “great exodus” from London. This chart shows that there is nothing new in recent history about net internal emigration from the capital. …