Richest place in the UK to live named, but it’s not London – full list | United Kingdom | News
This popular British city has been named as having the highest disposable income, meaning residents have more money available to play with.
People living in Brighton have an average of £1,315 in cash per month – more than any other city in the UK, according to data from This is Money.
This is 30% more than those living in London who have an average disposable income of £1,013.
Brighton is known for being a great place to live due to its vibrancy as a coastal city.
The data provides insight into the North-South divide by providing information on the value of money and disposable income levels, reports Daily Mail.
Nottingham is third in the list of places with the highest disposable income, at £1,055 per month.
According to MoneySuperMarket’s Household Money Index, a study which takes into account 31 different types of bills and expenses, research has shown that Brits typically have £836 of disposable income each month, depending on where they live.
In the south, Cardiff and Southampton have an average of £914.38 and £893.07 worth of electricity per month.
Further north, Liverpool and Leeds have disposable income levels of £541.82 and £543.82.
Meanwhile, in Birmingham people typically have £871.02 of disposable income after bills and expenses, and in Manchester people have £869.93.
The city with the lowest disposable income is Bristol, where residents have an average of £430.73 in disposable income due to high house prices.
In September 2023, MoneySuperMarket revealed that Brits typically spend 70% of their monthly income on bills and expenses.
By September 2024, this figure had fallen to 69 percent and current data suggests it has fallen further to 62 percent.
With higher salaries and lower expenses, Brighton residents typically spend around 45 percent of their monthly income on bills and expenses.
Kara Gammell, of MoneySupermarket, said: “While our index shows that spending on bills and expenses has fallen by almost 10% since September, it also highlights a growing gap in disposable income across the UK.
“In some areas, people have three times more disposable income than others. »
