£377m of duplicate items in homes

23rd November, 2005

First time buyers have amassed up to £377 million worth of duplicate goods in their homes, claims a new report.

The Co-operative Bank says that consumers could raise up to £1000 each from selling these items, with some Brits even owning triplicate items.

Around 13 per cent of those polled admitted to owning three or more DVD or video players, and one in seven boast three or more home computers.

David Newman, director of marketing management at The Co-operative Bank commented: 'As the average age of first time buyers has risen to 34 it's no surprise that purchasers have amassed, quite literally, a wealth of household items, which can often double when buying a first home together.'

Most couples say that they give their unwanted items to friends and family when they move into their new home, while 32 per cent stash them in the loft.

One in eight said they simply throw what they don't need away.

If you have goods stashed around the home, you can often misjudge the value of your home's contents.

It is important to consider these extra items when you're applying for your home and contents insurance, so their value is covered by your policy.

 

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