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Metro
5 days ago
- Business
- Metro
New study reveals the cities where Brits have most disposable income in 2025
Link is copied Comments If you're coupled up in the UK, some cities will be kinder to you financially. That's according to new research from specialist mortgage lender Pepper Money, anyway. The company recently conducted a study to find where British couples have the least and most disposable income, and you'll be surprised by the results. While a northern gem came out on top, other cities - that are renowned for being pricey - also fared particularly well (Picture: Getty Images) Pepper Money explained that, while wages across the UK are rising, many Brits are finding they have less money left at the end of the month in certain areas. This means the average Brit's disposable income is shrinking, despite a national living wage increase and higher median salaries. The research - based on couples who own a home together - looked at essential outgoings such as mortgages, utility bills, and car finance, plus average wages. With all of these paid off, they then did the math to find out how much each couple was left with at the end of the month. Curious about how your home city fares in terms of disposable income? Here are the top 10 cities: (Picture: Getty Images) Average monthly salary: £2,304.13 Total bills: £1,418 Average disposable income available: £886.51 At number 10 is Manchester, which has an affordable cost of living, especially when compared to other large cities like London. Student accommodation site uhomes ranked Manchester the 13th cheapest place to live in the UK. In 2024, the Office for National Statistics (ONS) reported that the average house price in the northern city is £257,000. So, for couples with more money to burn at the end of the month, Manchester is a great place to spend it (Picture: Getty Images) Average monthly salary: £2,334.59 Total bills: £1,400 Average disposable income available: £934.48 Next up is Leeds, a major city in West Yorkshire. While it's not the cheapest place to live, it is considered generally more affordable than other major cities. In May 2025, the ONS revealed that the average house price here is £241,000. From exploring the historic Kirkgate Market to grabbing cocktails at one of the many indie bars, there's a lot to spend your extra cash on in Leeds (Picture: Getty Images) Average monthly salary: £2,352.12 Total bills: £1,381 Average disposable income available: £971.33 The third northern (and second Yorkshire) city to make the list is Sheffield. The cost of living is significantly lower than Manchester's - according to the Sheffield College, it's 10% lower than the national average, and 25% lower than London. House prices here average at £221,000 as of January 2025 (Picture: Getty Images) Average monthly salary: £2,226.75 Total bills: £1,248 Average disposable income available: £978.80 Liverpool has so much going for it. From the iconic Docks to delving into the music scene at the Cavern Club, there's never a dull moment in the city. And, there's always an activity to spend your cash on. Expatistan estimates the cost of living in Liverpool is 47% cheaper than London, while house prices average around £180,000. This is way cheaper than the previous fellow northern cities on this list (Picture: Getty Images) Average monthly salary: £2,257.82 Total bills: £1,241 Average disposable income available: £1,016.72 Further down south to the Midlands now, and Nottingham has come in at a respectable sixth place. According to whatuni, the cost of living in Nottingham is quite close to the national average, but is around 18% cheaper than London. But, Rightmove prices houses a little higher, at £265,448 on average. With couples having over a grand to spend per month, it's worth checking out Nottingham Castle, the City of Caves, and the Old Market Square (Picture: Getty Images) Average monthly salary: £2,120.69 Total bills: £1,100 Average disposable income available: £1,020.95 In 2024, the cost of living in Belfast was around 37% lower than in London. As of the first quarter of 2024, the average house price in Northern Ireland's capital was approximately £216,098. There's so much to do in Belfast that suits every kind of person, from taking part in a seisiún (traditional Irish music session) in a local pub to diving into the city's history at Belfast City Hall. Or, experiencing the vibrant atmosphere of St. George's Market (Picture: Getty Images) Average monthly salary: £2,439.84 Total bills: £1,300 Average disposable income available: £1,140.18 Glasgow is considered to be more affordable than Edinburgh, Scotland's capital, and the UK's capital in general. Living in Glasgow is, on average, 20% cheaper than in London and 10% cheaper than the rest of the UK. House prices are also way more affordable, coming in at £188,000 as per the ONS. And, with almost £1,200 to spare after monthly outgoings, couples can enjoy the best of the Scottish city. The Kelvingrove Art Gallery and Museum, the Riverside Museum, and strolling through the Glasgow Botanic Gardens are highlights. Glasgow also has a thriving nightlife ready and waiting for you to splash the cash, too (Picture: Getty Images) Average monthly salary: £2,760.42 Total bills: £1,581 Average disposable income available: £1,179.25 Considering Edinburgh is renowned for being an incredibly expensive city, it's quite shocking to see it offering one of the highest disposable incomes in the UK. In 2023, it was actually named the third most expensive city to live in in the UK. Still, for home-owning couples (the average price sits at around £295,000), Edinburgh is a vibrant city that can provide a high standard of living. From the annual Fringe festival, exploring Edinburgh Castle to taking part in a Scotch Whisky Experience, there's never a dull moment in the Scottish capital (Picture: Getty Images) Average monthly salary: £2,671.22 Total bills: £1,340 Average disposable income available: £1,331.11 At number two is Coventry, where couples have over £1,300 to fritter away each month. In contrast to Edinburgh, the cost of living is a lot lower here. So are house prices, averaging around £224,000. Though Coventry isn't considered a 'day tripping' kind of town, it has a lot to offer residents. This includes Coventry Cathedral and FarGo Village, the city's creative quarter (Picture: Getty Images) Average monthly salary: £2,775.69 Total bills: £1,304 Average disposable income available: £1,471.27 Last but not least, it's Newcastle. With almost £1,500 of disposable income for couples, the city can be enjoyed without having to stress too much about money. Not only this, but Newcastle is known for being quite an affordable place to live: it's 23.0% less expensive than London, and has an average house price of £237,760. So, what can you spend your hard-earned cash on? Why not catch a show at the Theatre Royal, immerse yourself in live music at the Glasshouse International Centre for Music, or take a guided tour of Victoria Tunnel, a preserved 19th-century coal waggonway and wartime air-raid shelter. Even walking through the cobbled streets of Newcastle, and hopping into one of the many restaurants and bars, is a lovely way to while away your spare time (Picture: Getty Images)
Scotsman
17-07-2025
- Business
- Scotsman
Edinburgh named among UK's top cities for disposable income, new study finds
Edinburgh has been ranked as the third-best city in the UK for disposable income among couples who own a home, according to new research by specialist mortgage lender Pepper Money. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The study, which analysed average salaries, essential outgoings, and cost of living across major UK cities, found that homeowning couples in Edinburgh are left with an average of £1,179.25 in disposable income each month—after covering mortgages, bills, and other essentials. This puts Edinburgh just behind Newcastle (£1,471.27) and Coventry (£1,331.11), and well ahead of major cities such as Glasgow, Manchester, and London. Advertisement Hide Ad Advertisement Hide Ad Top UK Cities for Disposable Income (Couples Who Own a Home): A pile of British currency City Average monthly salary Total bills The average disposable income available Newcastle £2,775.69 £1,304 £1,471.27 Coventry £2,671.22 £1,340 £1,331.11 Edinburgh £2,760.42 £1,581 £1,179.25 Glasgow £2,439.84 £1,300 £1,140.18 Belfast £2,120.69 £1,100 £1,020.95 Nottingham £2,257.82 £1,241 £1,016.72 Liverpool £2,226.75 £1,248 £978.80 Sheffield £2,352.12 £1,381 £971.33 Leeds £2,334.59 £1,400 £934.48 Manchester £2,304.13 £1,418 £886.51 Birmingham £2,248.71 £1,378 £870.62 Bristol £2,544.44 £1,739 £805.84 Cardiff £2,176.08 £1,475 £700.66 Leicester £1,913.12 £1,349 £563.96 London £3,026.21 £2,585 £441.58 Despite the rising cost of living, Edinburgh's strong income levels and relative affordability for homeowners give it one of the highest levels of financial breathing room in the UK. Renters and Single Homeowners Face a Tougher Landscape The report also highlights a growing disparity between homeowners and renters. While couples in Edinburgh enjoy one of the UK's highest disposable incomes, renters in cities such as Bristol and Leicester face far greater financial pressure. Meanwhile, single homeowners in high-cost areas like London, Bristol, and Cardiff are now running at a monthly deficit, with essential bills outstripping income. Advertisement Hide Ad Advertisement Hide Ad Credit Card Debt on the Rise—and How Homeowners Can Free Up Cash The findings come at a time of mounting financial pressure, with average UK credit card debt now at £2,572. For many households, that means relying on credit for everyday costs. At a repayment rate of £100 per month, it would take over two years to clear this balance—assuming no new debt is added. With disposable income stretched thin, Pepper Money highlights how second charge mortgages (also known as a homeowner loan) can help households consolidating high-interest debt, and reduce monthly repayments, without giving up their existing mortgage deal. This can create extra breathing room to: Pay off high-interest debt Cover rising childcare or utility costs Save for emergencies However, Pepper Money encourages all homeowners to seek professional financial advice, as secured loans can increase the total amount repaid over time. Methodology Pepper Money analysed average salaries, essential monthly outgoings—including mortgage or rent payments, council tax, utility bills, groceries, and car finance—across major UK cities. Disposable income was calculated as the amount left after these expenses, based on publicly available data sources as of July.
Time Out
09-07-2025
- Business
- Time Out
Good news: Sydney's sky-high rent price rises are finally slowing down
Earlier this year, an international affordability report confirmed that Sydney's housing market ranked as the second most expensive in the world for the second year running. If buying a house in Sydney feels like a pie-in-the-sky dream (we hear you), then renting may be your only option – but scoring an affordable rental property in the Harbour City can be just as challenging. Rental prices in Sydney are higher than those in any other city in Australia, but we've got good news. Today, Domain has released its June Quarter Rent Report in partnership with Pepper Money, with data showing a widespread slowdown in rental price rises. Intrigued? Read on. Let's start with the bad news. As a surcharge for our beautiful beaches and sun-soaked way of life, rent in the Harbour City remains stratospherically high compared with the rest of the country. The average rental price for a house in Sydney is $780 per week, compared with $580 in Melbourne and $620 in Canberra. Similarly, the average rent for a unit in Sydney is $740 per week, compared with $575 in Melbourne and $580 in Canberra. Last year, house rents in Sydney rose to a record high of $780 per week, and unit rents hit a record high of $740 per week (that's up from $720 in June 2024). While rent on houses rose by only 0.6 per cent (the weakest June quarter growth in four years), rent on units increased by 2.1 per cent over the quarter – with the cost-of-living crisis driving demand for smaller, more affordable homes over larger houses. Sydney's vacancy rate in the June quarter hit a five-month high of 1.1 per cent. Thankfully, the property experts at Domain and Pepper Money say rental growth across the city (and the country) has started to slow – a change they've described as 'a welcome reprieve for millions of renters under pressure.' According to the data in the June Quarter Rent Report, rental price rises in most major capitals across Australia are either stalling or seeing their slowest growth in years. This is the first time since 2019 that house rents across the combined capitals have remained stable for four consecutive quarters, which Domain and Pepper Money say signals 'a clear turning point in the rental cycle.' 'Cost of living pressures have reached a tipping point. Renters are maxed out and landlords are being forced to hold steady. We're also seeing a shift in demand – renters are downsizing or choosing units to stretch their budgets, which is why unit rents are now rising faster than houses,' explains Domain's Chief of Research and Economics, Dr Nicola Powell. So while Sydney rents are still sky-high, they're starting to level out, and with rent rises in NSW now capped at one per year, we should start to breathe a little easier on the finance front. In the meantime, keep things affordable with our guides to Sydney's best happy hours, cheap eats and budget-friendly activities. Plus, here's what Parramatta will look like in 25 years.
Time Out
09-07-2025
- Business
- Time Out
Renters rejoice! Australia's sky-high rental prices are finally slowing down for the first time in five years
Earlier this year, an international affordability report revealed Australia had four of the most unaffordable housing markets in the world. If buying property feels like a pie-in-the-sky dream (we hear you), then renting may be your only option – but scoring an affordable rental in Australia's capital cities can be just as challenging. Rental prices have been on a steady climb over the past few years, but we've got good news. Today, Domain has released its June Quarter Rent Report in partnership with Pepper Money, revealing a widespread slowdown in rental price rises. Intrigued? Read on. Let's start with the bad news – rents remain at record highs in every capital city, except for Darwin houses. However, the pace of growth has slowed, with most capital cities either stalling or dropping to multi-year lows. In fact, this is the first time since 2019 that house rents across the combined capitals have remained stable for four consecutive quarters, with unit rents recording their weakest June quarter in four years and slowing annual growth to a 3.5-year low. Domain says this signals 'a clear turning point in the rental cycle.' Domain's Chief of Research and Economics, Dr Nicola Powell explains, 'Cost of living pressures have reached a tipping point. Renters are maxed out and landlords are being forced to hold steady. We're also seeing a shift in demand – renters are downsizing or choosing units to stretch their budgets, which is why unit rents are now rising faster than houses.' House rents in Sydney remain stratospherically high compared to the rest of the country. The average weekly rental price for a house in the Harbour City hit a record high of $780 – up just 0.6 per cent or $5 – marking the slowest June quarter growth in four years. In comparison, Perth 's average house rent also rose $5 to $700, while Canberra held steady at $700 – tying for the equal second-highest house rents in Australia. Rent for a house remained unchanged over the past quarter in Brisbane ($650), Adelaide ($620), Melbourne ($580) and Hobart ($570), and even decreased in Darwin from $700 to $650. Sydney also tops the list for unit rents, with an average of $740 per week – up $15 from last quarter. By comparison, units are currently renting for $620 in Brisbane and Perth, $580 in Canberra, $575 in Melbourne, $560 in Darwin, $523 in Adelaide and $500 in Hobart. You can check out the full report here.
Metro
11-05-2025
- Business
- Metro
Map reveals the UK loan hotspots where people borrow the most money
Searches for the term 'I need a loan' surged by 35% in the past three months, reflecting a growing reliance on borrowing to navigate financial challenges. This is evidenced by the latest Pepper Money lending study, which found that more than half of Brits saw a drop in disposable income last year; and higher bills are hitting the nation's pockets hardest. As a result, a third of UK households have borrowed to pay for food or utilities, while 16% say their debt has increased 'a lot' over the previous 12 months. According to the lender's data, the average loan taken out in 2024 sat at £41,088, with the most common reason given being debt consolidation (accounting for around half of the total) followed by home improvement (making up 9.7%). Loans for property purchases or investment and those to fund travel or weddings are also becoming more common, as is medical-related borrowing to pay for private care. However, it seems that residents in some cities were far more inclined to borrow than others. Brummies were responsible for almost one in eight loans across the UK last year, with the average amount coming to £40,393. Here, weddings were the most common reason for borrowing – a stark contrast to Sheffield (which accounted for the second-highest proportion with 10.5%) where it was medical bills. Next up, Cardiff came in third with 9.5% of the country's loans, and the top five was rounded off by Newcastle and Nottingham, which racked up 8.5% and 8.2% respectively. More Trending Perhaps surprisingly, London didn't make the top 10. But although the capital made up just 3.9% of 2024 loans, the ones that were taken out were the largest among the cities studied, averaging at a whopping £61,681. Commenting on the findings, Ryan McGrath, sales director at Pepper Money, says: 'We're seeing more households in cities like Birmingham, Sheffield, and Cardiff using loans not just to consolidate debt, but also to invest in their homes and even fund major life events. 'Rising costs mean people are looking for smarter ways to borrow, and secured loans are becoming a more popular option for homeowners who want to access larger sums at lower rates. View More » 'The key is ensuring that any loan, whether for home improvements, debt consolidation, or personal milestones, is the right fit for their financial situation by seeking financial advice.' Birmingham Total loan %: 12.5% Average loan amount: £40,393 Sheffield Total loan %: 10.5% Average loan amount: £35,077 CardiffTotal loan %: 9.5% Average loan amount: £36,636 Newcastle upon Tyne Total loan %: 8.5% Average loan amount: £37,669 Nottingham Total loan %: 8.2% Average loan amount: £35,794 GlasgowTotal loan %: 7.9% Average loan amount: £37,100 LeicesterTotal loan %: 7.8% Average loan amount: £42,057 ManchesterTotal loan %: 6.8% Average loan amount:£39,317 BristolTotal loan %: 5.8% Average loan amount: £48,102 EdinburghTotal loan %: 5% Average loan amount: £41,011 Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: Brits could save £868,000,000 a year with these kitchen cupboard cleaning swaps MORE: Cars catch fire at London shopping centre with smoke pouring into the sky MORE: Doctor found dead in bath after learning her boyfriend had one-night stand
