The Richest And Poorest Areas Of The UK Revealed

According to recent research, Nottingham residents have the least discretionary income in the UK.

The top five wealthiest locations in the UK, according to research by the Office for National Statistics (ONS), were all in London in 2020, the most recent year for which data was available.

The richest areas in the UK are still Kensington and Chelsea, as well as Hammersmith and Fulham, unchanged from the previous year.

The study was created by the ONS using gross disposable household income (GDHI), which is the total amount of money that all of the household sector's residents have left over after paying direct and indirect taxes and receiving any direct benefits.

The average annual income in Kensington and Chelsea, as well as Hammersmith and Fulham, is £60,277, which is over three times the national average of £21,440.

The wealthiest regions of London, although being far wealthier than the rest of the UK, have seen their wealth decrease the greatest, with Westminster losing 8.6%, Camden and the City of London at 6.0%, and Barnet at 2.2%.

The only region except London to have a significant drop in income was Buckinghamshire, which fell 2.1%.

According to the ONS, despite recent strong increases in rent prices, this fall was mostly caused by a decline in property revenue, which fell by 21%.

On the other hand, Nottingham residents only had £13,952 available for spending or saving.

Overall, GDHI per person increased in 95 out of 179 locations between 2019 and 2020.

Comparatively, between 2018 and 2019, GDHI per person increased in 175 of the 179 regions.

The COVID-19 pandemic, which had a variety of effects on local locations, was to blame for this development, according to the ONS.

At the start of the epidemic, the government boosted a number of benefits, particularly Universal Credit, to help with rising unemployment.

As the country shifted to working from home, populations in areas like Westminster, which had a high proportion of renters, fell sharply.

5 Richest Areas:

• Kensington and Chelsea
• Hammersmith and Fulham
• Westminster
• Camden and City of London
• Wandsworth

5 Poorest Areas:

• Coventry
• Sandwell
• Blackburn
• Leicester
• Nottingham

(yahoo.com, nottinghampost.com, ons.gov.uk)