August 16th, 2006, 12:37 PM
Taken from Mirror.co.uk (http://www.mirror.co.uk)...
LONDON IS 'CHEAPEST' CITY TO LIVE
By Victoria Bone
LIVING in Cardiff or Edinburgh is more expensive than being based in London, a survey claims.
Researchers found the average person in the capital spends 75 per cent of their monthly pay on rent, utility bills and debt repayments.
But everyday costs account for 97 per cent of the average wage in Cardiff and 93 per cent in Edinburgh.
Manchester is the second best city in terms of income to outgoings.
The surprising results are down to differences in salary across the UK.
Londoners earn an average of £1,809 a month with outgoings of about £1,338.
In Cardiff, average commitments are £1,059 - but wages are around £1,088.
The figures were revealed in a YouGov poll of 2,000 people which was carried out for Combined Insurance.
Nigel Brittle, who commissioned the survey, said: "These findings call into question the belief that London is the UK cost capital with an exorbitant cost of living. There are residents in other parts living closer to the financial edge."
August 16th, 2006, 11:16 PM
Last Updated: Wednesday, 16 August 2006, 05:43 GMT 06:43 UK
Cardiff 'UK's most costly place'
The Millennium Stadium is one of Cardiff's capital attractions
Cardiff and Edinburgh top the league for the cost of living in the UK, according to a survey.
They have overtaken London as the most expensive places to live, once income is taken into account, the YouGov poll for an insurance firm claims.
The study found people in the Welsh capital commit an average 97% of their monthly earnings to paying the bills.
For Edinburgh, the figure was 93%, while London was ninth at 73%, after cities including Leeds and Southampton.
The study for insurance firm Combined Insurance used the Annual Survey of Hours and Earnings by the Office of National Statistics to compare people's income with the outgoings of 2,000 people questioned.
Cardiff topped the bill as the most expensive city, with those questioned saying they had to spend almost £1,059 per month on essential living costs. Almost £160 of a gross monthly salary of £1,088 went on servicing debts such as credit cards.
THE COST OF LIVING
1. Cardiff - 97% of earnings committed to outgoings
2. Edinburgh - 93%
3. Leeds - 88%
4. Southampton - 87%
5. Birmingham - 85%
6. Newcastle - 83%
7. Glasgow - 80%
8. Manchester - 75%
9. London - 73%
Monthly earnings in Edinburgh averaged £142 more, but essential costs, such as utility bills, debt servicing, mortgage and food and travel expenses accounted for 93% of it.
However, although Londoners pay out most each month - £1,338 - their average monthly income of £1,809 puts their relative cost of living behind Leeds, Southampton, Birmingham, Newcastle, Glasgow and Manchester.
Nigel Brittle, of Combined Insurance, said: "These findings call into question the long-held belief that London is the UK cost capital with an exorbitant cost of living.
Capital cities like Edinburgh can have their price for residents
"When monthly income is taken into account, and all monthly commitments are totted up - not just mortgages - it's clear there are residents in other parts of the UK that are living closer to the financial edge."
Brian Morgan, a regional economist at Cardiff Business School, queried the accuracy of the income figures for Cardiff but said people in both it and Edinburgh faced extra costs for living in capital cities.
He put the average income for the greater Cardiff area at around £19,000, claiming the city had a greater proportion of commuters from outside than London, with the neighbouring Vale of Glamorgan one of the highest income areas in Wales.
He said: "Cardiff and Edinburgh are both seats of government and both have huge public sector departments.
"Edinburgh has an even bigger financial services sector and with the oil offshore a much higher number of corporate headquarters. It has seen an even more rapid increase in house price inflation than Wales."
August 16th, 2006, 11:54 PM
If with the current popularity of living on credit I find the idea that the average earnings after essential bills is as low as 3% in nay city to be laughable. Given that figure i cant take any of the results seriously.
If the journalists are correct it appears that the earnings figures come from reliable statistics whilt the bill figures come from peoples imperfect guesses given to a survey.
August 17th, 2006, 05:11 AM
yeah, sure..my left nut.
August 18th, 2006, 03:52 AM
congratulations on working out that people in London have more disposable income.
August 18th, 2006, 03:57 AM
According to who, the people that live in Tokyo?
I was floored back when the pound actually was only $1.50 about how the prices were numerically the same as they are in New York, which obviously meant that they were 50% MORE expensive than in New York.
I would probably wither in a pauper's grave had I had to rely on my parents while living in London going to school!
August 18th, 2006, 02:57 PM
The figures were revealed in a YouGov poll of 2,000 people
Then who cares?