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Manchester now more expensive to live in than London new study reveals
It showed Mancunians were left with the lowest amount of disposable income
According to a new study, people living in Manchester are spending more of their salary than Londoners on their monthly bills.
The study, conducted by Money Supermarket, calculated how much the average person in the UK spends on their household bills each day.
The data collected revealed residents in Manchester are typically spending nearly 80% of their income after tax on things like food, rent, bills and travel costs – found to be higher than anywhere else in the UK.
The results showed that those living in London were spending 66% of their income in comparison.
London is often labelled as the most expensive city to live in the UK but the study showed that Mancunians are actually using up a higher percentage of their income to live.
The research, which involved polling 2,000 people as well as taking information from Money Supermarket’s database, showed those living in Manchester spent £1,784.90 a month or £59.50 a day – which works out as £11 more than the average for the rest of the UK.
It also revealed that the northern city spends more on energy, phone contracts, car insurance and pet insurance than the rest of the country.
And Manchester is among the cities who pay the highest for broadband bills and school costs – including clothes and childcare.
It seems its residents also have the highest costs on things like toiletries, gym memberships, gaming and news subscriptions.
Londoners earn the highest average income of £30,302 with an average daily spend of around £55.72 on everyday essentials. Their higher income means people in London spend less on average on bills.
Meanwhile, Mancunians earn around £28,158 but spend around 76% of their wage, leaving them with the lowest rate of disposable income.
According to the research, people living in Manchester spend more on the following than anywhere else in the UK:
- Energy (£161.30 v £133.30 avg)
- Phone contracts (£74.10 v £42.50 avg)
- Car insurance (£49.20 v £39.10 avg)
- Pet insurance (£25.20 v £14.40 avg)
- Broadband (£69.20 v £54.50 avg)
- School costs (including clothes and childcare) (£86.90 v £63.70 avg)