Table 4: Local Authority Districts with the Lowest Average ISA Balances, January 2013
============================================================================Local Authority All Customers Average Balance District Region (GBP) (i)============================================================================Hackney London GBP 5,137============================================================================Newham London GBP 5,438============================================================================Southwark London GBP 5,643============================================================================Lewisham London GBP 5,909============================================================================Barking and Dagenham London GBP 6,043============================================================================Manchester North West GBP 6,152============================================================================Lambeth London GBP 6,196============================================================================Tower Hamlets London GBP 6,556============================================================================Corby East Midlands GBP 6,577============================================================================Kingston upon Hull Yorkshire and the Humber GBP 6,624============================================================================England and Wales GBP 8,844============================================================================Source: Halifax; (i) month end all outstanding balances for January 2013
(1) average annual gross earnings for all employees (ONS) for England andWales 2012.(2) HMRC Individual Savings Accounts (ISA) Statistics September 2012. Thesestatistics include both ISA cash and ISA stocks and shares - however 80% ofISA accounts subscribed by adults in 2011/12 were for cash ISAs. The Halifaxfigures in this release are for Cash ISAs only.(3) All average balance data in this release are per customer.
Data in this release is from the Halifax savings database for all outstanding stock of savings balances held by customers for all product types at the end of January 2013.
National averages in this release are for England and Wales only and are in not comparable to those stated in previous releases which included data for Scotland and Northern Ireland.
No adjustment is made to the calculation for area average balance where the gender is not known. Therefore, the overall savings balance may differ from the averages implied by the male and female averages.
The figures in this report, by their very nature, exclude people who have no savings. Figures from the ONS's Financial Resources Survey 2010/11 show that 40% of households have no savings (Table 4.9 - Households by amount of savings and investments).
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Lloyds TSB Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales, number 2065. Telephone: 020 7626 1500.
Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland, number 327000. Telephone: 020 7626 1500.
Lloyds TSB Scotland plc. Registered Office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland, number 95237. Telephone: 0131 225 4555.
Cheltenham & Gloucester plc. Registered Office: Barnett Way, Gloucester GL4 3RL. Registered in England and Wales, number 2299428. Telephone: 01452 372372.
Lloyds TSB Bank plc, Lloyds TSB Scotland plc, Bank of Scotland plc and Cheltenham & Gloucester plc are authorised and regulated by the Financial Services Authority.
Halifax is a division of Bank of Scotland plc. Cheltenham & Gloucester Savings is a division of Lloyds TSB Bank plc.
HBOS plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland, number 218813. Telephone: 020 7626 1500.
Lloyds Banking Group plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland, number 95000. Telephone: 0131 225 4555.
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