The UK city now ‘more expensive than London’ as locals spend a fortune on bills
A new study has found that this UK city is catching up to London when it comes to rental prices and bills, with some dubbing it the “capital of the north”.
People in Manchester are spending nearly 80 per cent of their monthly income on bills and other expenses, including food, rent, bills and travel costs.
This is a stark contrast to residents in London who are spending just 66 per cent of their monthly income on bills.
The latest data comes from Money Supermarket, who have calculated how much the average person in the UK spends on their household bills each day.
Despite London often being quoted as the most expensive city, people living in the capital are now actually spending less of their monthly income on the cost of living compared to those living in Manchester, reports the MEN.
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According to the research, which involved polling 2,000 people and extracting information from Money Supermarket’s database, Mancunians spent £1,784.90 a month or £59.50 a day – £11 more than the UK average.
The city spends more on energy, phone contracts, car insurance, pet insurance than anywhere else in the country. And it ranks among the highest for broadband bills and school costs, including clothes and childcare.
Manchester also has the highest spend on toiletries, gym membership, gaming and news subscriptions.
Despite Londoners having the highest average income – £30,302 – and spending an average of £55.72 on essential items per day, their higher income means people in the city spend among the lowest proportion of their income on bills.
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In contrast, Mancunians typically have 76 per cent of their £28,158 average income committed each month, and have the lowest disposable income.
Southampton is the city with the biggest gap between daily cost and income – meaning its residents have the most disposable income, with only 63 per cent committed each month.
The report also reveals how household bills have changed compared to 30 years ago – with bill payers having to spend the equivalent of £570 more across the same bills including electricity, gas, rent and mortgage.
It comes as rent prices in the city have continued to soar since June last year. The average rent in Manchester as of January this year was £1,600 a month – up from £944 six months before.
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