A recent report from the Centre for Cities has identified the UK towns and cities that have experienced the fastest growth in disposable income. Living standards in 11 top-performing locations increased by 5.2% since 2013, surpassing the national average of 2.4%.
Leading the pack is Brighton, with an impressive 8.1% rise in disposable income, followed by Worthing at 7.8% and London at 5.8%. These areas collectively achieved a 27% economic growth from 2013 to 2023, outpacing the national rate of 18.4%, resulting in a 5.2% increase in real disposable income.
Researchers estimate that if all 63 of the UK’s largest cities and towns had matched the growth rates of the top performers since 2013, residents would have seen an average increase of £3,200 in disposable income. For example, residents of Cambridge, where disposable incomes decreased by 3% overall, could have gained an extra £10,900 over the decade if they had matched the top performers.
In contrast, residents of Wigan, who experienced a 1.6% decline in real disposable incomes since 2013, could have had an additional £7,200 if their city had matched the top performers. Andrew Carter, the chief executive of the Centre for Cities, emphasized the importance of economic growth in raising household incomes, highlighting the role of policy decisions in driving growth and improving living standards.