Peterborough named in Top 10 places in UK to make money

Cathedral Square.
Cathedral Square.

People looking to find their fortune in the East of England should think about moving to Peterborough, as new research has revealed it to be the best place in the region to make a living and makes the top 10 nationally.

Analysis from credit comparison site TotallyMoney.com looked at criteria such as employment rates, average wages and cost of living to find the best places to live in the UK, from a financial perspective.

Peterborough benefits from relatively low unemployment (4.5%) and strong job growth (5%) making it the highest ranking area in the East of England, placing it at number 10 nationally and above Cambridge (41st) and London (52nd).

And Peterborough is consistent, having ranked in 10th position in 2015.

The analysis looks at Cost of living data (the price of a monthly travel pass, a cinema ticket, monthly gym membership, and a meal for two in a mid-range restaurant); salary data, data on new jobs, housing data from UK house price index, unemployment data, benefits claimants data, density data, and data on people-per-household.

TotallyMoney.com Head of Brand and Communications Joe Gardiner said of the research: “While scenery, shopping and a nice local pub are all important, people will always want to live in areas where they can be financially secure.

“This research shows us the true financial-health of an area, and that a town which offers high-paying jobs and expensive restaurants won’t necessarily be the best place to make a living.

“Here at TotallyMoney.com we are committed to making consumer credit fairer. We hope this research will allow people to make more informed decisions when looking for somewhere to live and allow them to take steps towards improving their financial situation.”

The top 10 places to make a living in the UK are:

1) Burnley

2) Wigan

3) Barnsley

4) Mansfield

5) Blackburn

6) Telford

7) Aberdeen

8) Derby

9) Sunderland

10) Peterborough