Just two cities in the South of England feature in the top 10 rankings for affordability and liveability
The majority of Britain’s best places to live are in the Midlands and the North, according to a new Liveability Index by financial services provider OneFamily.
Ranking towns and cities with 200,000+ residents, the Index focuses on the ratio of incomes to the costs of living, as well as taking into consideration factors including work and commuter satisfaction, job prospects, local property markets, and crime statistics.
Across all the different criteria, the Index named Sunderland, in the North East, as the best place for under-30s to live and work, due to its more affordable living costs and high jobs satisfaction.
According to the results, Sunderland’s average salary is £25,724 compared to an average property price of £121,822 whilst rent/mortgages cost around £6,828 per year.
The other regional cities in the top 10 were Leeds, Aberdeen, Liverpool, Derby, Leicester, York, and Nottingham, whilst Milton Keynes and Swindon were the only two Southern cities to feature in the highest rankings.
In addition, the survey found that households were more likely to prioritise non-financial benefits, such as entertainment and green spaces, ahead of earning potential, with just over 1 in 10 (12%) of workers in Leeds claiming they would relocate for a higher salary.
Reacting to the news, Sunderland’s Council Leader Graeme Miller said, “As well as being a city by the sea with beautiful beaches and coastline, Sunderland is a city with excellent transport links, affordable housing and warm and welcoming people.
“Add to this £1.5bn investment transforming the fabric of Sunderland, the landmark new Northern Spire Bridge, developments like the Vaux site and the thriving music arts and culture development in the city centre and you get a flavour of how the city is changing at an unparalleled pace.”
House prices in the North East increased by 3.3% in the year to September, according to the most recent House Price Index by the Office for National Statistics and Land Registry.