Blackburn has been named as the best place in Britain to make a living.

Blackburn’s residents can celebrate the fact that while they’re working hard, less of their money is spent on where they live.

The East Lancs town hit the top spot when average wages were compared to mortgage repayments in recent a survey conducted by totally.money.com.

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The survey compares median wages to mortgage repayments, cost of living and the health of the job markets in each town. The calculations focus on working and living in each town, with no points awarded for scenery, culture, or connections to the rest of the UK.

Lancashire Telegraph:

The average mortgage repayment in Blackburn is £354 per month compared to an average £1,646 per month take home salary which means that Blackburn’s residents can expect to spend around 21% of their earnings on their mortgage.

But the survey that placed Blackburn in the number one spot also placed Burnley in the bottom ten.

It seems that residents in Burnley can expect to take home on average £367 per month less than their neighbours in Blackburn.

Lancashire Telegraph:

And while earnings are less, it seems that mortgage repayments are on average £170 per month more, meaning that Burnley’s residents spend a whopping 40.1% of their earnings on mortgage repayments.

TotallyMoney.com boss Alastair Douglas said: “Far too often, only house prices are taken into account when trying to identify the best place to live. This can produce some very misleading results.”

Property expert Kate Faulkner said: “In today’s modern world, people are keen to balance a successful career with a good lifestyle.

"However, in many areas where there is a strong jobs market, such as London, Oxford and Brighton a well-paid job doesn’t mean you have enough disposable income to achieve this, especially when you take into account the cost of owning a home.

 


 

 

 


 

 

"For example, the average cost of a repayment mortgage in London is actually higher than the median salary itself, while in Blackburn, one of the best places to make a living, the mortgage payments are just 21% of the median salary, so there is still lots of money left to have a great social life.

We regularly hear about the issues of ‘affordability’ that the younger generation are facing. What this analysis clearly shows is that it is still possible to strike a balance between work and play and there are towns and cities you can live in with successful economies where homes and a good standard of living are still affordable.

"So if you want to achieve a great work life balance, it is worth researching the areas identified.”