Soaring value in UK gadget homes

FAMILIES spend so much on gadgets that the contents of the average home are now worth more than the 1986 value of the house itself.

The average contents are valued at just under £42,000, while the average property 17 years ago cost £40,126.

Homeowners have cashed in on the property boom by remortgaging and taking on bigger loans to improve their quality of life.

For many this means new kitchens with all the latest appliances, American fridges costing around £2,000, Aga-style range cookers, stainless steel dishwashers and 'intelligent' washing machines, which advise on correct programmes.

More than 75% of homes now have a personal computer, in some cases more than one so there are no arguments among children doing their homework.

In terms of home entertainment, we have DVDs, home cinema systems and flat televisions that hang on the wall.

Bathrooms are no longer just a bath, basin and loo. There are power showers, spa baths and even entertainment systems, including TVs.

The flood of home improvement and design programmes on television have created a hunger for fashionable-decor and devices as never before. The collective value of the contents of the nation's homes is put at £756bn, an increase of more than 40% since 1994.

This is more than double the value of the average home's contents in 1970, which was £ 19,831 in today's prices.

Having the latest model car on the drive is no longer seen as sufficient a status symbol. For families now define themselves through their homes.

Keeping up with the Joneses in the 21st century involves spending thousands of pounds on the latest gadgets. For example, robotic vacuum cleaners are being pushed hard this Christmas by Electrolux.

Even the garden is not immune from this make-over fever. There are ride- n lawnmowers, strimmers, chainsaws and then floodlighting systems and fountains.

According to research by More Th>n insurance, households in the South-East have the highest valued contents at an average of £48,186, a 58% increase since 1994. Those in the South-West have the lowest value at £31,623, an increase of only 21%.

In London and Wales, the value of home contents has also seen big increases, rising by 55% since 1994 to £47,507 and £34,413 respectively. The smallest increase was in the North- East, with values rising by just 16.2% to £32,658.

During the same period, disposable income in the South-East rose 29%, compared with a rise of only 9% in the North-East.

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