According to a social mobility charity London has become the "epicentre of the elites" in the UK, making it "off limits" for young people from poorer backgrounds.
The Sutton Trust says the high cost of housing has become a social barrier. A report, using London School of Economics research, says social mobility is easier outside the capital.
Sir Peter Lampl, said the idea of going to London to "move up in the world" had become "a myth".
The report entitled Elites in the UK: Pulling Away?says it is increasingly difficult for young people to move to London to get the high-paying jobs concentrated in the capital. This is exacerbated by practices such as unpaid internships, which are available only to those who can afford to live and work in London without earning.
The report highlights the rise of the ultra-rich in London in recent decades, with their wealth often deriving from finance and banking. The study suggests a lack of wider awareness among this wealthy elite - reinforced by the small, self-reflecting circles in which they move.
