UK standard of living lags behind nine European countries

Britain has the tenth-highest standard of living in Western Europe, according to new analysis of 17 countries.

The study correlates average wages with the cost of living to decide where Europeans have the highest standard of living. The UK comes behind the likes of Switzerland, Denmark and Germany based on the purchasing power of its inhabitants, although it does rank higher than France, Spain, Italy and Portugal.

The study, carried out for the jobs website Glassdoor, suggests high property prices are dragging Britain down the table.

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At around £32,000, according to the study, the average wage in the UK is higher than that of Germany or Austria. However, it comes below them on the league once property prices and other costs of living are taken into account. London, in particular, is ranked as the third-most expensive city in the bloc.

"When it comes to compensation, a larger pay packet isn't always better. What matters is the ability to afford useful things that enrich our lives," Glassdoor's chief economist, Dr Andrew Chamberlain, writes.

"Average wages vary considerably from one country to another but the gap between take-home pay and price levels has more relevance to the man on the street.

"A low cost of living, as you would find in Greece and Portugal, doesn't count for much if average wages and purchasing power are similarly low."

Here is Glassdoor's list of 17 European countries, ranked in order:

1. Switzerland

2. Denmark

3. Germany

4. Sweden

5. Netherlands

6. Finland

7. Norway

8. Ireland

9. Austria

10. UK

11. France

12. Belgium

13. Spain

14. Italy

15. Portugal

16. Greece

17. Estonia