Data released by the ONS found that London had the highest gross disposable household income per person, with those living in the capital having £29,890 available to spend or save on average
The richest neighbourhoods in the UK are all located in London, with the areas of Kensington and Chelsea and Hammersmith and Fulham topping the list.
In October, the Office for National Statistics (ONS) released its latest data based on the total gross disposable household income (GDHI) across the country in 2020.
According to the statistics, GDHI per head in the UK fell by 0.2% when compared with 2019 - in England, it fell by 0.2% and in Northern Ireland by 0.5%, while Wales and Scotland reported increases of 0.9% and 0.3%, respectively.
The ONS said London had the highest GDHI per person, with those living in the capital having £29,890 available to spend or save on average.
Northern Ireland had the lowest at £17,301, which compares with a UK average of £21,440, the ONS data show.
In 2020, Kensington and Chelsea, and Hammersmith and Fulham was the local area with the highest GDHI per head (£60,277), nearly three times the UK average.
In comparison, Nottingham had the lowest GDHI per head at £13,952.
The UK total GDHI in 2020 was £1.4 trillion - and of that, 86.4% was in England, 7.5% in Scotland, 3.9% in Wales and Northern Ireland had the lowest share of total GDHI in 2020 at 2.3%.
Despite London having the richest neighbourhoods, the ONS data also found that GDHI per head fell between 2019 and 2020.
The largest declines were in Westminster at 8.6%, and Camden and City of London at 6.0%, followed by Barnet at 2.2%, and Buckinghamshire County Council at 2.1%.
The decline was due to falls in property income received, the ONS said - and it disproportionately affected areas in London where the levels of property income and self-employment are high.
GDHI is described as the amount of money that all the individuals in the household sector have available for spending or saving after they have paid direct and indirect taxes and received any direct benefits.
Top five areas by gross disposable income:
Kensington and Chelsea, and Hammersmith and Fulham
Westminster
Camden and City of London
Wandsworth
Hounslow and Richmond upon Thames
Bottom five areas by gross disposable income:
Coventry
Sandwell
Blackburn with Darwen
Leicester
Nottingham
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Last year, the most expensive street in Britain was revealed as Phillimore Gardens in the London Borough of Kensington and Chelsea.
According to an annual review carried out by Halifax, the average house price on the street sits at an eye-watering £24million.
Phillimore Gardens was built in the early 18th century and sits on the Phillimore Estate, on land acquired by the affluent Phillimore family.
It runs from the duch*ess of Bedford’s Walk right through to Kensington High Street, and neighbours Holland Park.
