Rural savers have '£1,500 more than urban residents'

Rural savers typically have around £1,500 more squirrelled away than their urban counterparts, a report has found.

People living in the countryside have £10,357 put aside for a rainy day on average, which is £1,537 more than people living in towns and cities who typically have £8,820 in their nest egg, according to Halifax's "savings barometer" of England and Wales.

Rural residents 'save more money' according to report. Credit: Anna Gowthorpe /PA

The biggest gap between urban and rural savers was found in the West Midlands, where the balances of those living in the countryside were typically 31% or £2,431 higher than those in towns and cities.

Across the findings, rural savers typically have 44% of their gross annual earnings put away, compared with 34% for urban savers. The smallest average balances were found in the London boroughs of Newham and Hackney, at £5,173 and £5,241 respectively.