Edinburgh residents’ net worth higher than London

Report found Edinburgh residents were only second to Bristol in the UK. Picture: TSPL

A Post Office Money survey found the typical resident of the Scottish capital estimates their personal worth to be £202,500 – more than £20,000 higher than London, where high living costs have pushed down the average level of personal wealth, and almost £50,000 above the UK average of £159,000.

Bristol residents claimed to have the highest personal worth at £308,000 each.

The research asked UK adults to consider their personal value, taking into account their home, car, annual salary, savings and all their possessions. Men’s net value was £60,000 more than women, at £165,700.

However, most adults also had a typical debt amounting to £21,000, taking the average UK value down to just £138,000.

The research revealed a big increase in UK adults’ net value during their forties – up from £39,500 in their thirties to £130,000 a decade later.

Nick Kennett, director of financial services at Post Office Money, said: “What is clear is that during their forties people gain significant financial worth and the balance begins to tip.”