Recession has left typical household £17,000 worse off

The average household is more than £17,000 worse off than it was at the start of the recession, research showed today.

A combination of house price and stock market falls has reduced the value of the average household's assets by 17,480, according to MetLife.

Sign up to our daily newsletter

The i newsletter cut through the noise

The financial services firm, which analysed figures from the Office for National Statistics, said people's household wealth, which includes the value of their home, their pension fund, savings and investments, stood at 350,600 at the end of last year.

But people are still better off than they were in 2008, when 27,000 was knocked off their household wealth due to the problems in the housing market and stock market falls. The average household has 39 per cent of its wealth tied up in property,