Latest statistics from the ONS indicate that median UK household disposable income was £26,300 in 2015/16, £600 higher than the previous year and £1,000 higher than its pre-downturn peak (£25,400) in 2007/08 in the year ending March 2016.
Median disposable income for the poorest fifth of households rose £700 (5.1%) in 2015/16 to £13,600. In contrast the income of the richest fifth of households fell by £1,000 (1.9%) over the same period to £53,400.
The median income for retired households rose by 3.1% in 2015/16, while the median income for non-retired households was broadly unchanged. The median income of non-retired households is still 1.2% below its pre-downturn peak, while the median income of retired households is 13% higher.
Commenting, senior statistician at the ONS Claudia Wells said “Household incomes are above their pre-downturn peak overall, but not everyone is better off. While retired households’ incomes have soared in recent years, non-retired households still have less money, on average, than before the crash.”