High earners live outside London

07 July 2004
The UK's top five wealth hotspots are all located outside London and the South East, according to a new survey.

The Barclays Financial Planning study found that Britain's highest-earning residents live in High Peak in Derbyshire, where the number of people earning more than £60,000 a year rose by 68 per cent in 2003.

Monmouth, Cardiff North, Manchester Withington and Keighley, West Yorkshire, also saw a rapid increase in residents earning more than £60,000 a year.

The number of high earners in Watford, Hertfordshire, rose by 62 per cent last year, putting the town in sixth place, the South East's highest position in the list. Dartford, in Kent, was in seventh place, followed by Bethnal Green and Bow and Holborn and St Pancras, in London.

But when it comes to absolute levels of wealth, Kensington and Chelsea still has the highest proportion of £60,000 plus earners, while the affluent South Yorkshire suburb of Sheffield Hallam is the highest ranked area outside London.

Business development director for Barclays wealth businesses, Steven Mendel, said: "Desirable rural areas such as the Peak District and the English/Welsh borders are attracting ever greater numbers of the affluent who are choosing to live in the country whilst commuting to their well paid jobs in the large cities."

The research was based on eight million Barclays current account customers, categorised according to parliamentary constituencies.