Biggest income rise for city folk

Homeowners in Lichfield have seen the largest increase in household income in the West Midlands, it was revealed today.

The average household earnings in the city are now £41,850.

The figure is an increase of eight per cent over the past year.

According to figures released by Barclays Premier Banking service, Stratford upon Avon remains the wealthiest place in the region with an average household income of £51,000, although this has risen by only six per cent.

This was followed by Warwick and Leamington at £49,850, a six per cent increase, and Sutton Coldfield, at £48,475, a four per cent increase.

The increase in household incomes is likely to have a knock-on effect in the city with cost of living increases and house price rises.

Latest figures for the housing market in Lichfield show the average cost of a home in the city has risen 4.4 per cent to £227,596.

This is in contrast to neighbouring Cannock Chase where the average price is £153,063.

Bret Packard, managing director of Barclays Premier Banking, said: "Lichfield has always been a desirable place to live and with road and rail links into Birmingham for example make it an attractive place for the professional community."