- The annual OneFamily Liveability Index has revealed the best place to live in the UK for 18-40s, as well as the country’s best cities for job opportunities, income, emotional connection and more
- Norwich has taken the top spot, ranking highly in quality of day-to-day life, happiness and value for money
- Those aged 18-40 in Liverpool are the most satisfied with their income and the cost-of-living
- Cardiff residents in this age group have the most emotional connection to their city – they’re happy with where they live, are optimistic about their future and are proud of their city
- Bristol has taken the top spot for career opportunities for UK 18-40s
- However, 38% of 18–40-year-olds across the country, say they are worried they might have to move due to not being able to afford the rise in cost of living where they’re based
Norwich has taken the top spot of the best place to live in the UK for those aged 18-40, according to OneFamily’s latest City Liveability Index.
The annual research, which was conducted by the financial services organisation, asked 2,000 people aged 18-40 years old about the best places to live and work in the UK.
Respondents were asked how they felt about a range of areas of their life – such as how happy they are where they live, if they’d consider moving away, the cost of living in their city, their income, job prospects, work-life balance and more.
With all aspects taken into consideration, Norwich has been ranked the best place to live, as residents rated it highly in areas including quality of day-to-day life, general happiness and value for money.
Liverpool and Edinburgh are close behind in joint second place. Both of which scored highly for how much pride their residents take in where they live. Those in Liverpool are also most satisfied with their income and the cost-of-living compared to the rest of the country.
Meanwhile, 18-40s in Cardiff have the highest emotional connection to the city – they’re happy with where they live, are optimistic about their future and are proud of their city.
Bristol has taken the top spot for career opportunities for this age group and 18-40s in Edinburgh are the happiest in the country.
However, the survey also asked individuals about their worries regarding where they live. Those in Glasgow are most concerned about the property market in their cities, with 64% concerned about the cost of housing followed by London and Manchester (both 58%).
Across the UK, 38% of 18–40-year-olds say they are worried they might have to move due to not being able to afford the rise in the cost of living where they’re currently based.
Jackie Davies, Head of Customer Service and Direct Sales at OneFamily, said, “The rise in the cost of living, as well as high rent costs are forcing some people to make difficult decisions about their budgets, particularly around their savings.
“There are many are ways to maximise your savings and get the most out of your money. If you’re looking to get on the property ladder, a lifetime ISA could be a great option as the free government bonus gives an extra boost to first-time buyers.”
The Lifetime ISA is a product set up by the UK government to help people buy their first home or save for retirement. The government tops up lifetime ISAs by 25%, so for every £100 saved, an extra £25 will be added on top. The maximum saving limit into a lifetime ISA per year is £4,000, which equates to an annual bonus of up to £1,000.
The best places to live and work for 18-40s in the UK (according to OneFamily’s annual Liveability Index)
- Norwich
- Liverpool and Edinburgh
- London
- Cardiff
- Bristol
- Manchester
- Southampton and Birmingham
- Glasgow and Leeds
- Sheffield, Brighton and Nottingham
- Belfast
- Plymouth
- Newcastle
– ENDS –
Notes to Editors
Unless otherwise stated, all research conducted by Opinium, on behalf of OneFamily, 25th September – 9th October 2023, among a sample of 2,000 UK adults aged between 18-40.
What is a lifetime ISA?
Lifetime ISAs are a product set up by the UK government to help people either buy their first home or save for retirement (from the age of 60).
The government tops up lifetime ISAs by 25%, so for every £100 you save, it will give you an extra £25 on top. You can’t save more than £4,000 in your lifetime ISA each tax year so the biggest government bonus you can get is £1,000 a year.
Please note, there is a penalty charge for taking your money out within 12 months or not using it for your first home or for retirement. This is known as the government withdrawal charge.
As with all ISAs, lifetime ISAs are tax-free. This means that no matter how much your investments grow by, you won’t pay any tax on the money you make. Our Lifetime ISA invests in stocks and shares, therefore it has good potential to grow over the long-term but the value can go down as well as up.
Once opened, you can continue contributing to your lifetime ISA until you are 50.
The be eligible to open a lifetime ISA, you must be:
- A UK resident
- Aged between 18 and 39
Find out more about Lifetime ISAs and the OneFamily Lifetime ISA calculator.
About OneFamily
OneFamily is a member-owned financial services company that offers lifetime ISAs, lifetime mortgages, junior ISAs, child trust funds, bonds, over 50s life cover along with life insurance and critical illness cover under the Beagle Street brand.
We have over 45 years’ experience of being a trusted provider of financial solutions, with nearly 2 million customers and over £5.5 billion in funds under management at the end of 2022.
We are the UK’s biggest child trust fund provider, holding over 25% of the market.
Supporting our members and their communities
At OneFamily, we’re owned by our members for our members – and doing right by them is at the heart of our business.
We don’t have shareholders to pay dividends to, so we reinvest our profits to provide quality products and services for the benefit of our members.
We think that financial products should be accessible to everyone regardless of how much money they have to invest. That’s why our products have low investment levels and minimum contributions, giving more people the opportunity to save regardless of their circumstances.
Inspiring Better Futures
Our Inspiring Better Futures vision underpins our commitment to doing the right thing at every level for our members and customers, colleagues and communities.
The Inspiring Better Futures vision is built on 3 pillars – Members and customers, colleagues and communities.
Our focus is on long-term sustainability, so we can continue to be relevant and impactful to our members and communities.
Access to education and training
The costs of further education and training can be a barrier to many young people and their families. This is why we offer OneFamily customers the opportunity to apply for a Young Person’s Education Grant of up to £250 – for someone aged 15-19 – to help meet these costs, when they would otherwise struggle without financial assistance. The grant can be used towards study materials, specialist uniform, travel costs or a laptop/tablet.
Applications are open throughout the year, and grants are awarded following a random computerised draw.
We’ve improved the lives of over 3,400 people through our individual grants since 2015.
Charity Partnerships
Supporting our communities has been a key focus of ours for many years. We’ve established partnerships with local and national charities that champion access to education and improving life chances for people from disadvantaged backgrounds.
For more information on how we support our members and communities see:
Education Grants
Charity Partnerships