Yorkshire & Humberside
Yorkshire and the Humber props up the Index with a score of 0.20.
|Household expenditure||£476 per week|
|Insolvency rates||19.9 per 10,000 population|
Yorkshire and the Humber remains in 11th place in the Prosperity Map, with an index score of 0.2, a slight dip from last year’s score of 0.21.
Growth in Yorkshire and the Humber has been boosted by increases in average earnings, which have grown by 2.1%, with unemployment simultaneously falling by 0.8%. Only Scotland, Wales and the North East have seen greater changes in their unemployment rates over the last year.
The region has also enjoyed the fourth largest increase in GDP per capita across the UK, jumping 2.4%. At city level, Leeds saw one of the biggest year-on-year increases in GDP per capita, with 3.5% growth.
Residents of Yorkshire and the Humber have seen a large uplift in their expenditure, with an average increase of 5.7% to £476 a week. Only Eastern England and London have seen greater increases, rising 5.8% and 5.9% respectively.
The average house in Yorkshire and the Humber is now valued at £142,753, with house prices rising 4% over the last year. This is a slower rate of growth than the rest of the UK, with only Scotland and London experiencing slower growth. While the region as a whole has seen a more muted rise in house prices, in Leeds property has increased by 6%, behind only Manchester (7%) and Birmingham (8%).
Yorkshire and the Humber has seen its number of millionaires jump up 9.8%. The 28,000 millionaires in Yorkshire and the Humber represent 4.5% of all millionaires in the country and a 0.1% share increase on last year.