Londoners 'spending double' at home

7 May 2009 04:18pm

Londoners spend twice as much money running a home as people in the north of the country, research showed.

People living in the capital devote around £819 a month to household expenses, including their mortgage, 20% more than the national average, according to money management website Kublax.

But the North East is the cheapest place to live, with people in the region spending just £386 a month on household expenses - 44% less than average.

The research also found that Londoners are the biggest spenders in all areas, forking out more than £2,500 for their total monthly outgoings, 11% more than the national average of £2,291.

Meanwhile those in the North East get by on 34% less than average at just over £1,500.

Tom Symonds, chief executive of Kublax, said: "I think that this shows that London is one of the most expensive cities in the world, if we contrast it with the North East there is a huge increase in spending.

"We found that cash withdrawals from ATMs in London are an average of £50 but in the North East the average is £10. It would appear that there is a generally more frugal approach to life in that region."

The study, which was carried out on 3,500 Kublax users, found that London is the most diverse spending area in the country with 25% of people surviving on £1,400 per month, and another 25% spending more than £3,500 per month.

However, the nation's capital is not the only place where people are spending their cash. Kublax found that the East Midlands and the South East are spending more than the national average for shopping and supermarket expenditure of £344 per month.

A Kublax spokeswoman said: "The East Midlands and the South East are hiding our nation's shopaholics with people spending 8% and 7% more than the national average, respectively, while Londoners surprisingly spend 4% less than average."

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