|By Marketwired .||
|December 7, 2012 11:46 AM EST||
HALIFAX, UNITED KINGDOM -- (Marketwire) -- 12/07/12 -- Savings balances show the emergence of a geographic split, which contrasts the more typical north south divide.
When examined at Local Authority level, the latest Halifax research reveals that, between July and September, whilst nine of the ten highest savings balances in England and Wales are in the south, so are over half of lowest savings balances.
The 'South-South' disparity is driven predominantly between Local Authorities in the South East and Greater London. South Buckinghamshire tops the list for the highest average savings balance at GBP 13,459, which is more than three times that of Hackney, which stood at GBP 4,246.
Across England and Wales the average savings balance was GBP 7,830 at the end of September.
Richard Fearon, Head of Halifax Savings comments: "Whilst we have come to expect a variation of savings balances in different areas, any assumptions that the difference is purely on a north-south basis are clearly unfounded."
At a regional level, a large variation in average savings balances does, however, remain. The biggest savers are in East Anglia with an average balance of GBP 9,195, whilst savers in the North East have the lowest average balance, at GBP 7,546. East Anglia is followed by savers in the South East (GBP 9,128) and the South West (GBP 8,605).
None of the regions with an average savings balance below the national average of GBP 7,830 are in the South; North West (GBP 7,561), Wales (GBP 7,704) and West Midlands (GBP 7,817).
Savers, on average, have a savings balance that is equivalent to 29% of gross average annual earnings. The highest proportion is in the South West (36%), followed by Wales, Yorkshire and the Humber and East Midlands (all 34%).
Women have an average savings balance (GBP 8,015) that is six per cent higher than those held by men (GBP 7,538). Women also save more in relation to earnings than men across all areas of England and Wales. Overall, women have an average savings balance equivalent to 40% of their gross average annual earnings, compared to men who have an average savings balance equivalent to 22%.
Richard Fearon adds: "Whilst women have slightly higher savings balances than men, the fact that they save almost double the amount of their earnings would suggest that saving is greater priority to women and they manage their money more effectively to be able to do this."
Savings in proportion to earnings are highest for women in the South West (49%); closely followed by East Midlands (47%), East Anglia and Yorkshire and the Humber (both 46%). Savings by men are highest in proportion to earnings in Wales and the South West (both 28%). London has the lowest levels of savings relative to earnings for both women (30%) and men (16%).
At a Local Authority Level, women in Ryedale in North Yorkshire (76%), Great Yarmouth (72%), Boston in Lincolnshire (71%) and West Dorset (71%) have the highest average savings balance in relation to local average gross earnings.
The Local Authorities with the lowest savings balances in relation to earnings for both women and men are all in London. Hackney, Islington, and Tower Hamlets all have an average savings balances equivalent to less than 20% of local gross average annual earnings.
The Halifax Savings Barometer presents a snapshot of savings in England and Wales over a three month period. The research is based on data from Halifax's deposit savings database. Halifax is the UK's leading savings providers with more than GBP 90bn of savings on deposit and over 11.5 million savings customers. The analysis in this release is based on savings accounts held with Halifax in Quarter 3 2012.
0845 739 4959
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 29, 2016 01:00 PM EDT Reads: 1,971
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...
May. 29, 2016 12:45 PM EDT Reads: 1,665
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...
May. 29, 2016 11:30 AM EDT Reads: 1,438
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
May. 29, 2016 11:15 AM EDT Reads: 601
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
May. 29, 2016 11:00 AM EDT Reads: 1,427
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
May. 29, 2016 11:00 AM EDT Reads: 691
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
May. 29, 2016 10:30 AM EDT Reads: 1,291
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
May. 29, 2016 10:30 AM EDT Reads: 1,264
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
May. 29, 2016 10:00 AM EDT Reads: 2,499
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
May. 29, 2016 09:45 AM EDT Reads: 2,022
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
May. 29, 2016 09:30 AM EDT Reads: 2,304
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
May. 29, 2016 09:15 AM EDT Reads: 729
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
May. 29, 2016 08:15 AM EDT Reads: 2,656
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
May. 29, 2016 08:15 AM EDT Reads: 2,739
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
May. 29, 2016 07:00 AM EDT Reads: 2,298