|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
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Feb. 7, 2016 10:45 AM EST Reads: 138
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 7, 2016 10:15 AM EST
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Feb. 7, 2016 10:00 AM EST Reads: 337
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze 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. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Feb. 7, 2016 09:30 AM EST Reads: 137
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
Feb. 7, 2016 09:15 AM EST Reads: 189
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Feb. 7, 2016 07:00 AM EST Reads: 102
SYS-CON Events announced today that Fusion, a leading provider of cloud services, 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. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
Feb. 6, 2016 03:30 PM EST Reads: 709
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
Feb. 6, 2016 03:30 PM EST Reads: 107
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 6, 2016 03:15 PM EST Reads: 328
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of 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, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 6, 2016 02:30 PM EST Reads: 355
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Feb. 6, 2016 02:00 PM EST Reads: 681
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, 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. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 6, 2016 01:30 PM EST Reads: 345
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Feb. 6, 2016 01:15 PM EST Reads: 514
SYS-CON Events announced today that VAI, a leading ERP software provider, 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. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Feb. 6, 2016 01:00 PM EST Reads: 541
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
Feb. 6, 2016 12:00 PM EST Reads: 322