Haves and have nots one and the same?

Two reports out yesterday may initially hint at a sharply divided nation.

The first points out that more than 40,000 new property millionaires have been created across Britain so far this year. In total, some 660,900 homes across the country are now estimated to be worth at least £1 million — an increase of more than 40,800 since January.

In apparent contrast, more than 16 million people of working age have savings of less than £100.

While one might think the people in each of the categories would be poles apart, the truth may be more complex — and the gap narrower than one imagines.

In fact, many homeowners living in perfectly pleasant and traditionally “middle class” properties are among those with the least disposable income.

House prices have grown so rapidly in recent times — notwithstanding a few hiccups during the global downturn — that jumping on the property ladder has become an increasingly difficult manoeuvre.

For many people, mortgage expenditure accounts for a huge proportion of their income, leaving precious little room for savings in the traditional sense.

Having money locked up in property is all very well, but it offers precious little comfort in emergencies.

Many of the 48% of working Scots who have less than £100 available may live in what outwardly appears to be relative comfort. The truth may be very different.