Home is Brits priority

2nd August, 2005

Housing ranks as the average Briton's main area of expenditure, new research finds.

Showing a departure from figures last recorded 40 years ago, when eating out was a households' biggest expense, Mint's survey suggests that the home is now something increasingly important to Brits.

As larger amounts of money are invested in the home, it is important to protect the investment with decent home insurance, which will cover property and belongings in cases of accident and emergency.

Housing has moved from being fifth in the major UK expenses, to the top of list today, taking more than one tenth of our disposable income in 2004.

"The one topic of conversation that never seems to go away is housing and despite our new, more experiential outlook, housing costs are top of the pile as our biggest area of expenditure," said Jerry Toher, Mint managing director.

Mint finds that UK spending patterns have moved more towards personal enrichment and creating memories, depicting the average Brits desire for a comfortable life. With more expensive and cared-for properties, the need for home insurance has never been greater, because any potential damage will be more expensive and upsetting.

 

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