Figures from borro revealed that the total physical wealth of assets excluding property and other investments stood at £1tn between 2008 and 2010.
This is an increase of £51bn between 2006 and 2008, reflecting the asset spending boom in the lead up to the recession, as well as continued spending throughout the downturn.
In contrast the average UK adult now has only £1,574 in savings, representing a 15% decrease from 2011 and 27% have no savings at all.
Paul Aitken, chief executive officer at borro, said: “Physical wealth in the UK has reached incredible heights and people are continuing to spend in this area, albeit not at the same pre recession levels.
“As people’s saving deposits have decreased we are seeing a nation of asset rich, cash poor adults emerge. The report’s findings reaffirm the trends we are witnessing at borro.
“More people are realising that they hold a wealth of assets that they can use to access finance – either to fund a business opportunity like the majority of our customers do or to cover temporary cash flow issues. “
