London ranked the most prosperous spot in the UK, but its growth is slowing against other regions

London has held its position as the UK’s top spot for prosperity, but growth in the capital is lagging against a backdrop of fluctuating economic conditions and Brexit negotiations, new research suggests.

Barclays Wealth & Investments’ annual UK prosperity map, which will be published today, found London’s growth was slowing across a range of indicators measured by the study compared with the rest of the UK.

Each UK region and city was given a prosperity index score based on a number of factors including the number of millionaires, average earnings, business growth rates, house prices and GDP per capita.

In London, GDP and house price growth was slower than in other regions, Barclays found.

Although London had the highest GDP per capita of the UK’s cities and regions at £43,629, the capital has reported only modest growth over the last year compared with other regions.

GDP per capita in London grew by 1.6 per cent, compared with three per cent in the north west and 2.8 per cent in the north east.

When it came to house prices, almost every city had seen higher house price growth than London, which was up three per cent. Birmingham and Manchester welcomed the greatest increases with house prices growing eight per cent and seven per cent respectively.

However, with an average house price of £502,787, London continued to hold the claim of the UK’s highest house prices.

Mark Smith, regional director of the London region at Barclays Wealth & Investments, said the research shows that London is still the top driver of economic growth in the UK.

“With London seeing a slight decline in overall prosperity, and slower house price and GDP growth than other regions, it’s clear that there it is a mixed picture for the capital and that other cities in the UK are seeing more positive signs of growth,” Smith said.

The 2017 prosperity map by city

City Final index figure Last year’s figure
1. London 0.93 0.91
2. Reading 0.77 0.75
3. Cambridge 0.56 0.56
4. Leeds (+1) 0.42 0.43
5. Bristol (-1) 0.40 0.44
6. Cardiff 0.38 0.32
7. Birmingham 0.38 0.26
8. Manchester 0.37 0.26
9. Liverpool 0.21 0.15
10. Newcastle 0.20 0.11

The 2017 prosperity map by region

Region Final index figure Last year’s figure
1. London 0.77 0.78
2. South East 0.56 0.58
3. Eastern England 0.45 0.42
4. Northern Ireland (+1) 0.35 0.34
5. East Midlands (+1) 0.32 0.30
6. South West (-2) 0.31 0.37
7. West Midlands (+2) 0.23 0.24
8. North West 0.22 0.26
9. Scotland (-2) 0.22 0.27
10. Wales 0.20 0.23
11. Yorkshire and the Humber 0.20 0.21
12. North East 0.07 0.12

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Advertisements
My Daily Journal.........

Everything from my world to yours'......:)

The Perks of being Different

Just sharing some experiences :)

Exclusivito

Confessions of a book-traveller

Digital Art Blog

Digital Art Blog — by Alex Markovich. Only new photos, drawings and music since September 1, 2017. E-mail: MarkovichUniverse AT gmail.com

https://malimachhindra11.wordpress

मुखपृष्ठ मच्छिंद्र माळी

STORY OF STREET

WHERE EVERY CHARACTER IS A GEM AND EVERY MOVE IS A DREAM

Pen Paper and IT

This is my corner of the Net where I can relax and share my thoughts

Dear Dharma

Advice on almost anything…

Human Life Run

Mistakes Are Reality Of Life.

BayArt

New Perspective on Life

mali9437

Machhindra wordpress

indahs: dive, travel & photography

cities - cultures - ocean - marine life

The Beauty Along the Road

Discovering Beauty in the small details of our lives

THE WORDSMITHSCRIBE--MLST

A personal comprehensive compendum of related personal thought, diary, articles geared towards championing and alleviating the course of humanity towards the achievement of a greater society whereby all the inhabitants of the world are seeing as one and treated equally without any division along religious affinity, social class and tribal affliation.This is all about creating a platform where everybody interested in the betterment of the society will have a voice in the scheme of things going on in the larger society.This is an outcome of deep yearning of the author to have his voice heard across the globe.The change needed by all and sundry all over the globe starts with us individually.Our world will be a better place if every effort at our disposal is geared towards taking a little simple step that rally around thinking outside the box.

vtofighi

A great WordPress.com site

Ashes of Life

A journey to discover my own writing voice

The Blog of Travel

Motorbikes, dogs and a lot of traveling.

Advertisements
%d bloggers like this: