Home spending falling

2nd December, 2005

In the past decade, consumer spending on the home has increased by 56 per cent, claims MORE THAN's annual home contents index.

In 2004 alone, splashing out on domestic items grew by 6.7 per cent. Yet today's figures show that this year, home spending has risen by just 1.6 per cent.

Experts have attributed this slowdown to a number of factors, citing rising utility bill and petrol costs knocking consumer confidence. According to the survey, a quarter of Brits are currently uneasy about their finances.

David Pitt said that although it might seem like your home doesn't have that many possessions, it is still important to keep track of their value.

With a typical family home in the UK now containing £45,341 worth of possessions, it's important that households have adequate insurance cover.

'It's easy to lose track of the value of your possessions over time and it's really important to ensure you have enough cover for your home contents should the worst happen,' he advised.

 

• Next Article: Noisy neighbours cause music misery
• Previous Article: Deck the halls for £1,000
• This Month: News For December 2005