January 10, 2014
It is common knowledge that the wealth of the country is not evenly spread, but just what is the difference as we travel up and down the length of the UK? For example, did you know that London has an average disposable income that is 36% higher than the UK national average?
London and the South East of the country hold the highest average disposable income, but as the population moves out into the South coast we see this decrease. These coastal towns do however become popular retirement locations predominately to get away from the London rat race, as illustrated in the graph below.
As we move further away from our nation’s capital and the belt of cities running up the spine of the UK we see wealthier areas become more distributed into the rural areas of the country. But this is of course not to say all of the country’s wealth is locked away within the M25, here's a list of the wealthiest areas in each region.
North-West
Cheshire holds the wealthiest population in the North-West, with Altrincham and Wilmslow, in particular holding high levels of disposable income with approximately 56% and47% higher than the national average respectively.
North-East
In the North-East, the pockets of very high affluence are less concentrated and tend to be scattered around the peripherals of Newcastle. This can be seen in the areas of South of Hexham and Corbridge with a 50% higher disposable income than the UK average and the town of Ponteland which is 46% higher.
South-West
The North-East of Cardiff stands out as having the highest concentration of wealth in the South-West and Cefn Mably Park has the highest disposable income of the area bringing the average up to 54% higher.
Scotland
You might be surprised to find the Aberdeen holds some of the wealthiest areas in Scotland with 70% higher than the UK average. But it is the small town of Thorntonhall that holds the highest values with 83%.
Northern Ireland
The highest levels of disposable income in Northern Ireland are predominately found around Belfast in the locality of Stranmillis, holding a disposable income of 45% higher than the national average.
Business uses
Understanding the spread of affluence can be important for many businesses not just at the national level but also at a local level. Applying an understanding of affluence can support:
- Site planning
- Targeted marketing
- Business expansion strategy
- Market evaluation
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