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Equality
The Big Take

How London’s Property Boom Left Black Britons With Nothing

Exclusive new data reveal an ugly truth about the road to prosperity in the U.K.

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Black Britons Left Out of London’s Housing Boom

Buying a place to live is the single most important way of achieving prosperity in the U.K. and is so central to life that scrutinizing the property market is a national pastime. Yet, Black people risk falling further behind for generations as urban gentrification exposes gaping racial wealth disparities.

The median accumulation of wealth through home ownership by a Black family over the past decade in Great Britain is zero, based on data produced for Bloomberg by the Office for National Statistics. In contrast, a White British family has amassed about a net 115,000 pounds ($163,000) by holding property and land over the same period.