Halifax: savings show regional differences

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Halifax: savings show regional differences

Research from the Halifax has shown that people in the UK are saving different amounts depending on where they live.

According to the study, people in London are saving the most, with an average balance of £14,267 - although they saved the least in proportion to their income.

South Buckinghamshire and Elmbridge in Shrewsbury came second and third on the list of big savers respectively.

Outside the south, people in the Derbyshire Dales had the highest average savings balance with £11,607.

There was also found to be a slight difference in genders, with women saving an average of £7,065 compared to the male average of £6,865.

Martin Ellis, chief economist at Halifax, said that the findings were an interesting insight into Britain's saving habits.

"There are wide variations in saving behaviour across the country with Londoners saving a significantly smaller proportion of their income than elsewhere in the country. It is also notable that women save a markedly higher proportion in relation to earnings than men," he said.

A recent report from Fool.co.uk found that one in 25 people don't expect to have anything to bequeath when they die.

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