Wealth and Assets Survey, Waves 1-5 and Rounds 5-7, 2006-2020

<span style="font-family: openSans400, sans-serif; font-size: 15px;">The </span><span style="font-family: openSans400, sans-serif; font-size: 15px; font-weight: bold;">Wealth and Assets Survey</span><span style="font-family: openSans400, sans-serif; font-size: 15px;"> (WAS):</span> <p>The <i>Wealth and Assets Survey</i> (WAS) is a longitudinal survey, which aims to address gaps identified in data about the economic well-being of households by gathering information on level of assets, savings and debt; saving for retirement; how wealth is distributed among households or individuals; and factors that affect financial planning. Private households in Great Britain were sampled for the survey (meaning that people in residential institutions, such as retirement homes, nursing homes, prisons, barracks or university halls of residence, and also homeless people were not included).<br> <br> The WAS commenced in July 2006, with a first wave of interviews carried out over two years, to June 2008. Interviews were achieved with 30,595 households at Wave 1. Those households were approached again for a Wave 2 interview between July 2008 and June 2010, and 20,170 households took part. Wave 3 covered July 2010 - June 2012, Wave 4 covered July 2012 - June 2014 and Wave 5 covered July 2014 - June 2016. Revisions to previous waves' data mean that small differences may occur between originally published estimates and estimates from the datasets held by the UK Data Service. Data are revised on a wave by wave basis, as a result of backwards imputation from the current wave's data. These revisions are due to improvements in the imputation methodology.<br> <br> <span><span style="font-weight: bold;">Survey Periodicity - "Waves" to "Rounds"</span><br> </span>Due to the survey periodicity moving from “Waves” (July, ending in June two years later) to “Rounds” (April, ending in March two years later), interviews using the ‘Wave 6’ questionnaire started in July 2016 and were conducted for 21 months, finishing in March 2018. Data for round 6 covers the period April 2016 to March 2018. This comprises of the last three months of Wave 5 (April to June 2016) and 21 months of Wave 6 (July 2016 to March 2018). Round 5 and Round 6 datasets are based on a mixture of original wave-based datasets. Each wave of the survey has a unique questionnaire and therefore each of these round-based datasets are based on two questionnaires. While there may be some changes in the questionnaires, the derived variables for the key wealth estimates have not changed over this period. The aim is to collect the same data, though in some cases the exact questions asked may differ slightly. Detailed information on <a href="https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/methodologies/movingthewealthandassetssurveyontoafinancialyearsbasis" target="_blank">Moving the Wealth and Assets Survey onto a financial years’ basis</a> was published on the ONS website in July 2019. </p><p>A Secure Access version of the WAS, subject to more stringent access conditions, is available under SN 6709; it contains more detailed geographic variables than the EUL version. Users are advised to download the EUL version first (SN 7215) to see if it is suitable for their needs, before considering making an application for the Secure Access version.</p><p>Further information and documentation may be found on the ONS <a href="https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/methodologies/wealthandassetssurveywas" title="Wealth and Assets Survey"> Wealth and Assets Survey</a> webpage. Users are advised to the check the page for updates before commencing analysis.</p><p><span style="font-weight: bold;">Latest edition information</span></p><p>For the 14th edition (February 2022), data and documentation for Round 7 were added to the study.</p>