London kids 'biggest savers'
London-based children have the highest average savings balances in the whole of the UK, new research has found.
According to the Halifax Children's Savings report, six of the ten local authorities found to have the highest average savings balances in youngsters' accounts are situated in the capital.
Nitesh Patel, economist at Halifax, said: "There are wide variations in children's savings balances between regions, with generally higher balances in Greater London and the South East compared to the north of England and Scotland."
The economist added encouraging children to save from an early age could play an important part in their futures.
People living and working in the capital may also be keen to save money and could find they achieve this goal by choosing flats to rent in Fulham or another part of London, rather than buying in the same area.
This is because house prices in the city are typically higher than elsewhere in the country, so by renting, people could find themselves saving valuable money by not taking on a mortgage.
Written by Charles Mackay
Published 4th January, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Greenwich primary schools have been rated as being among the best in the UK, according to new research.
Read Article ... Published on 15th September, 2014
Over £20 million will be spent on regenerating the Hammersmith and Fulham area after a new agreement was drawn up, it has been revealed.
Read Article ... Published on 11th September, 2014
Barnet Council have launched a new drive to boost the number of affordable homes in the borough.
Read Article ... Published on 10th September, 2014
Bexleyheath is a leafy and historic suburb based in south-east London. It is an area that underwent a lot of regeneration in the 1930s and 40s.
Read Article ... Published on 5th September, 2014
Hackney Council is set to build two new apartment blocks as part of a bid to boost residential homes for tenants, after being granted planning permission, it has been revealed.
Read Article ... Published on 8th September, 2014
Hackney may be on its way to becoming recognised as being one of the most green boroughs in London, new research suggests.
Read Article ... Published on 3rd September, 2014
A new traffic system is set to transform travel in Ealing, after it was revealed that work on the Southall Broadway is expected to be complete by Christmas.
Read Article ... Published on 2nd September, 2014
A new initiative is taking place across London to improve some of the estates that were the worst affected by the 2011 riots.
Read Article ... Published on 1st September, 2014
An increasing number of properties are becoming available for renters, according to new research.
Read Article ... Published on 28th August, 2014