Residents in Richmond Upon Thames are biggest savers

Just a short stroll from the famous Richmond Park lives some of the nation's biggest savers, according to latest research from the Halifax savings; which identifies UK's postal areas with the largest savings balances.

Residents in the TW10 6 area of Richmond Upon Thames have the highest average balance in the UK of £29,765 - 380% above the average for London.

The borough in south west London is followed by residents in the Aberdeen's AB15 4 area with an average balance of £26,130 (350% above average balance for Scotland).

There are three other postal areas where average balances are over £20,000; these are in Putney's SW15 6 postal area (£22,557); EH12 6 in Edinburgh (£22,158) and HA7 4 in Stanmore (£20,894).

Thirty one of the top 50 postal areas with highest balances are in Greater London (19) and the South East (12). Twelve postal areas are in Scotland, three in the North West, two in Yorkshire and the Humber, and one each in the South West and East Midlands.

The GU22 0 area of Woking in Surrey hits the top spot in the South East at £18,384, 176% above the regional average; followed by BN3 6 in Hove in Sussex (£18,234), BN20 7 in Eastbourne (£17,897), IG10 4 in Loughton (£17,882) and HP9 2 in Beaconsfield ((£17,203).

In Scotland, nine of the 12 areas are based in Aberdeen, Edinburgh or Glasgow.  Residents in Edinburgh's EH12 6 area have the second highest average savings balance north of the Border (£22,158); followed by AB31 4 in Banchory (£19,316) and EH3 6 in Edinburgh (£18,775). Outside Scotland's leading cities the highest balances are in KY16 9 in St. Andrews (£16,417) and KA7 4 (£16,171) in Ayr.

Outside southern England, the HG2 8 area of Harrogate has the largest balance, to rank tenth at £18,467, 211% above the regional average.  Followed by a second Harrogate area (HG1 2, £18,380); SK10 4 in Macclesfield (£18,134), NN8 5 in Wellingborough (£17,279), WA15 9 in Altrincham (£16,525) and L18 3 in Liverpool (£16,496.)

Flavia Palacios Umana, Head of Halifax Savings Products said, "The postal areas with the largest savings balances are in London, the South East and Scotland, with the neighbourhoods of Richmond upon Thames and Aberdeen streets ahead of the rest of the UK. However the research also points to postal areas in Harrogate building their savings pots to rival those in the south."

For more information, visit halifax.co.uk.