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Revealed: The most expensive and cheapest cities to work and rent in

CV-Library reveals the true extent of the North/South divide in the UK

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CV-Library.co.uk

New analysis from the UK’s leading independent job board, CV-Library, reveals the true extent of the North/South divide when it comes to wages and rental prices in the UK. In fact, it reveals that Londoners pay a staggering 37.1% of their monthly salary on living costs, versus those in Hull who spend just 11.6%.

The findings compared average asking rents  across the UK*, with monthly take home pay** in these cities. It found that despite London offering some of the highest salaries in the UK, workers in the Capital and Brighton are far worse off than those living in the likes of Hull, Liverpool, Sheffield and Newcastle, where lower asking rents leave workers with higher disposable income.

What’s more, Aberdeen is offering the highest monthly take home pay, and coupled with low living costs, this city is emerging as a far more cost-effective place to live in comparison to London, Brighton and Edinburgh. The full breakdown is provided in the table below:

City

Average asking rent per month

Monthly take home pay

Percentage of wages spent on rent each month

London

£836.05

£2,254.94

37.08%

Brighton

£623.99

£1,909.60

32.68%

Edinburgh

£463.79

£1,988.70

23.32%

Bristol

£458.24

£2,090.82

21.92%

Southampton

£418.88

£1,921.05

21.80%

Portsmouth

£409.32

£1,898.29

21.56%

Exeter

£393.39

£1,855.27

21.20%

Cardiff

£371.48

£1,950.90

19.04%

Manchester

£361.58

£1,918.99

18.84%

Birmingham

£342.76

£1,974.84

18.16%

Leeds

£349.87

£1,887.57

17.72%

Aberdeen

£317.64

£2,301.40

16.27%

Glasgow

£301.36

£1,951.93

15.88%

Newcastle

£290.06

£1,898.19

15.46%

Sheffield

£283.16

£1,876.21

14.99%

Liverpool

£336.09

£1,888.50

14.60%

Hull

£227.68

£1,956.65

11.64%

*Rightmove data explored average asking rental prices for a two-bed property in key cities across the UK. The asking rents per month are based on two people living in the property splitting the cost. **CV-library data explored average salaries advertised in 14 UK cities from 1st January – 31st October 2017. Monthly take home pay factors in tax, National Insurance and average student loan repayment deductions

Lee Biggins, founder and managing director of CV-Library, comments on the findings: “Despite the government’s efforts to eliminate the North/South divide, it’s clear that living costs and wages aren’t quite following suit. Generation ‘rent’ is well and truly in full swing, and while some cities offer manageable living costs and generous pay packets, others could be pushing workers to breaking point.”

What’s more, these findings do not factor in additional costs on top of rent, such as council tax, electricity, water and gas bills, not to mention other monthly outgoings including mobile phone and internet contracts, pension, transport, insurance and so on. This means that those living in cities such as London, Brighton, Edinburgh and Bristol could be heading towards debt levels each month.