A new piece of research that analyses average wages compared to mortgage repayments to find the best place to make a living in the UK has thrown up some surprising results, with Blackburn in Lancashire.
The analysis compared median wages to mortgage repayments, cost of living and the health of the job markets in each town. The calculations focused on working and living in each town, with no points awarded for scenery, culture, or connections to the rest of the UK, which is why places which have commonly been favoured by those who commute into London, like Luton and Brighton, don’t make the top 20.
While London is frequently declared (mostly by its residents) the best city in the UK to live in, the average mortgage repayment here is larger than the median take-home salary, and the cost of living is the highest in the UK. Conversely, in Blackburn, average mortgage repayments are just 21% of the median take-home salary and the cost of living is significantly lower. Gloucester ranks bottom with mortgages at £939, 52% of the median wage figure.
(via Totally Money).
Other findings from the analysis include:
• Blackburn is the best place in the UK to make a living, followed by Derby, Cambridge, Sunderland, and Milton Keynes
• The worst place to make a living in the UK is Gloucester, followed by Rochdale, Blackpool, Newport, and Burnley.
• Derby, which ranked 2nd out of 64, claimed its spot in the top 5 with its low cost of living and healthy job market
• Cambridge’s low cost of living and high job growth in comparison to Oxford’s saw these top university cities rank number 3 and number 19 respectively
• London ranked number 26
• The UK’s second largest city, Birmingham, ranked 30th out of 64
