VALENTINES DAY: BRITS MORE IN LOVE WITH THEIR HOMES THAN PARTNERS

Stats Show Some Brits are More Committed to Their Homes Than Their Partners

As the property market continues to boom amidst the pandemic, it might seem like everyone and their new puppy has moved house over the last 12 months. However, new data from Quotezone.co.uk shows that British people may actually be more committed to their homes than previously thought – even after house-fatigue has set in with months of staying inside. 

The data shows that nearly one third of homeowners in 2020 have lived in the same house for more than 20 years, 15% of homeowners live in their homes for more than 30 years and 52% of homeowners stick it out for a full decade.

The research also found that almost 10% fall for the romance of an older property at over 100 years old. 

The data, taken from Quotezone.co.uk’s quarterly home insurance index report, is based on a sample of nearly 10,000 home insurance policies and shows that on average, people in the UK stay in the same house for more than 14 years. This is a significant period of time, particularly when you compare it to relationship statistics which show when a marriage ends in divorce, it typically lasts for 12 years.*

Therefore, despite recent trends to flip houses and pocket the extra cash, these statistics suggest that Brits are more likely to love it than list it.

Greg Wilson, Founder of Quotezone.co.uk comments: “It’s heart-warming to see the British public’s continued love of their homes despite the challenges of spending much more time locked down there over the last year. However, sometimes staying in the one house for multiple years could lead to a degree of complacency around existing home insurance policies.

“Some providers have been known to increase insurance premiums on renewal, so it’s important to remain vigilant, put key dates in the diary and be sure to regularly check bills.

“If switching proves to be your best option, comparison sites are an ideal way to help you gather information – they can give you an overview of what’s on offer across multiple providers instantly, with just one quote form.  This should help you find a more competitive price.”

Quarter 4 of the Quotezone.co.uk home insurance index saw the overall UK average drop by £8, with Northern Ireland as the new highest paying region on average, at £182, up £7 – with North East England remaining the lowest at £112, a drop of £13. 

Quotezone.co.uk helps around 3 million users every year find a competitive quote by comparing over 400 insurance brands across 60 different products including niche products such as flat roof insurance, landlord insurance and listed building insurance