12 April 2019
Glasgow is the millennial hotspot. Photograph: Pixabay
Scotland’s biggest city pips London to claim the title
Glasgow has earned the bragging rights of being the best city for millennials to live and work in.
Scotland’s biggest city was crowned the best city for millennials due to its average weekly income of £526, the vibrant music culture and nightlife and below average housing prices which see’s one-bedrooms going for around £90,466. Glasgow pipped London to the title, with England’s capital coming in second.
The findings come from research done by credit rating company TotallyMoney, which assessed 63 UK cities on factors such as work opportunities, cost of living, property prices and entertainment options.
Scotland has done well overall with two other cities appearing on the list: Aberdeen coming in third, and Edinburgh in 14th spot.
Aberdeen which is in the top five has the same employment rate as London, higher-than-average weekly earnings and an average monthly asking rate of just £478 for a one-bedroom flat.
Top 20 cities as ranked by TotallyMoney.com. Infographic: Totallymoney.com
Stuart Patrick, the chief executive of Glasgow Chamber of Commerce, said in an opinion piece on the results: “This was a relatively standard approach combining a basket of measures into an overall ranking with some subjective weighting assumptions. Nevertheless, it did capture the essence of a distinctive advantage that Glasgow is increasingly exploiting and attracting fresh business investment. Scotland’s biggest city is winning in the battle for young talent.”
London was second, even though the average wage there was higher, at £727 a week and there were far more start-ups per 10k of population. However, to rent a one-bedroom flat in London costs around £1,633, while Glasgow’s figure was £544 per month.
TotallyMoney used 16 factors to create their ranking which included graduate hiring rates, employment rates and the number of young people on benefits.
Glasgow accounted for 5% of graduate hires in the UK with an employment rate of 70%, while Londoners made up 39% of graduate hires.
James McCaffrey of TotallyMoney said “There are some things millennials have had to adjust to that haven’t been experienced by past generations, and with this comes an entirely different set of priorities.
“Rising house prices, stagnant wages, and Brexit are just some of the hurdles this generation have to get over. But, that’s where our map could help, as it makes it much easier for millennials to find the places where those hurdles might be easier to jump.
“Of course, the rankings should be taken with a small pinch of salt, as some factors will be more important to some than others.”
The full list of 63 UK cities can be found here.