Savers in South Buckinghamshire have the highest average savings balances in the UK at £13,429, which is three times the typical balance in Hackney, research shows.
In a study of its savings customers, Halifax found that Londoners in general have the lowest balances in the country - suggesting salaries in the capital do not fully compensate for high housing and living costs. Savers in London have just 22% of their annual earnings tucked away. Those in Wales, the South West and the East Midlands have the highest amounts saved as a proportion of their earnings, all at 34%. The ten areas with the highest savings balances were all in southern England, including the districts of Mole Valley in Surrey, Chiltern and St Albans. But despite the South b...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
