Cardiff has come out top in MoneySuperMarket’s Quality of Living index for 2014.
Usurping Bristol, which came first in 2013, the yearly study of Britain’s dozen biggest cities found Cardiff to have the lowest cost of living of the 12, £359 per week. It also has one of the lowest unemployment rates – 8.1 per cent – and the second-highest disposable income growth, 3.7 per cent.
Dan Plant, consumer finance expert at MoneySuperMarket, said that while Cardiff was clearly benefiting from quality of life improvements, “this position can change, as a strong local economy can often lead to increases in house prices and rental costs, resulting in a fall in disposable income growth”.
Adviser view
Matthew Bird, financial planner at Cardiff-based Seer Green, said: “Speaking anecdotally, I’ve heard the opposite – clients are noting how average income seems lower than the rest of the UK despite relatively high house prices. Since April, mortgage purchases have tailed off slightly, but it’s certainly not quiet”.
