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August 16

2019
by Millie Wickens
£50k a year and no mortgage make for a happy home, says survey

Renters are among the least happy people in the country, according to a new survey. Homeowners without a mortgage are the happiest, while social housing tenants are the least happy.

Giving a score out of 100, private renters ranked their happiness as 34, while social housing tenants ranked theirs a low 14 and owners without a home loan scored 54.

Age impacted wellbeing as well, with the over 65s topping the generations for happiness. Couples living together scored 48, while larger households lagged with 40, but still beat singles on 37.

Money doesn’t buy happiness – high earners bringing home between £60,000 and £70,000 a year hit a score of 44, while those on £30,000 to £40,000 managed 47, but the happiest were the £50,000 to £60,000 bracket, who scored 65.

Andy Mason, mortgages director at Lloyds Bank, which carried out the research, said: “The happiness ranking gives us an idea of the quality of life in each region across Britain, with the South West taking the top spot this year.

“Financial security clearly plays a role in how happy we are, but that doesn’t tell the full story. Other factors like convenient amenities, living close to friends and family, and a good community spirit make a big impact too.”

The bank also ranked Britain by regions in order of happiness, with the South West coming top and Wales bottom –

  1. South West (51.5)
  2. Scotland (48.48)
  3. Yorkshire (47.97)
  4. North West (45.5)
  5. South East (43.57)
  6. Northern Ireland (41.38)
  7. East Midlands (40.82)
  8. East of England (40.62)
  9. North East (40)
  10. West Midlands (37.22)
  11. London (36.16)
  12. Wales (33.67)

The happiest cited good transport links, convenient amenities, living close to friends and family, safety, cleanliness and a good community spirit as all contributing to their well-being.

High crime rates, anti-social behaviour, poor local services, unemployment, not knowing neighbours and loneliness were the main issues reported by the Britain’s least happy residents.

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