Portsmouth sees highest increase in wages in UKÂ

Portsmouth has seen the biggest rise in average salaries in the country since 2010, a study has found.Â

Wednesday, 4th July 2018, 2:36 pm
Updated Monday, 16th July 2018, 5:06 pm
Portsmouth has been named fifth most gentrified city in UK by GoCompare. Picture: Sarah Standing

The average median salary of residents in the city has risen by 28 per cent between the start of the decade and 2016, going from £18,000 per annum to £23,000. 

Research carried out by GoCompare found that Portsmouth had a bigger rise in salary than London during the six year period since 2010. 

The study also found that the city has 6.43 coffee shops per 1,000 shops, which was the second highest in the country behind Reading. 

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Between 2010 and 2016 property prices in the city had risen by just 76 per cent which is one of the smallest increases in the UK, GoCompare found. 

Cultural investment per person was £59 in the city. 

GoCompare's study found that Portsmouth was the fifth most gentrified city in the country behind Cambridge, Aberdeen, London and Reading, while being ahead of Brighton, Oxford, Manchester, Preston and Bristol. 

The cities were ranked by the increase in property prices, council investment, salary increase and services provided. 

In recent years, gentrification has become something of a buzzword surrounding the rejuvenation of urban areas.

However, the term has been around for over 50 years and was originally used to describe population changes in London.

Today, gentrification is measured by the presence of cultural indicators such as coffee shops, restaurants and property price increases as a way of determining change.