The recent report by the think tank Centre for Cities has unveiled the UK towns and cities with the most rapid growth in disposable income.
Living standards in the top-performing 11 locations surged by 5.2% since 2013, surpassing the national average of 2.4%.
Brighton led the pack with an 8.1% increase, followed by Worthing at 7.8% and London at 5.8%. A detailed list of the top performers can be found below.
Collectively, these cities and towns saw a 27% economic expansion from 2013 to 2023, outpacing the national rate of 18.4%, and achieved a total real-terms disposable income growth of 5.2%.
If all of the UK’s major cities and towns experienced the same disposable income growth rate as the top performers since 2013, residents would have gained an average of £3,200 more in disposable income over the period.
In contrast, Cambridge witnessed a 3% decline in real-terms disposable incomes since 2013, resulting in residents missing out on an additional £10,900 over the decade if they had matched the top-performing areas.
For Wigan residents, who experienced a 1.6% drop in real-terms disposable incomes since 2013, the potential additional income could have been £7,200.
Andrew Carter, the chief executive of Centre for Cities, emphasized the importance of economic growth in boosting household incomes, stating that sustainable growth is essential for lasting improvements in living standards.
He highlighted successful cases like Warrington and Barnsley where economic growth led to higher incomes and reduced deprivation, attributing these outcomes to strategic policy decisions regarding skills, transportation, housing, and business support.
Carter also underscored the significance of the Government’s planning reforms, devolution agenda, and Industrial Strategy in fostering city growth and enhancing living standards over time.
He emphasized the need for cities to create more job opportunities in emerging sectors such as life sciences, digital technology, and AI, as these sectors not only benefit urban areas but also have positive effects on the broader economy.
Looking ahead, Carter echoed the Prime Minister’s call for political action to drive job creation, wage growth, and economic prosperity across various regions by the end of the year.