UK living costs 'increasing'

19/06/2009 12:29

It now costs the average household £11,455 a year to run their home, new research has found.

However, while this is a significant sum, it is only an increase of 2.6 per cent from the figure recorded in 2007, Sainsbury's Home Insurance reports.

This is due in part to falling mortgage costs, which have declined by 1.53 per cent in the last two years, making up 60 per cent of a household's total costs.

Due to rises in wholesale prices, the cost of gas and electricity has increased.

However, there are steps Britons can take to keep their energy bills to a minimum.

Commenting on the figures, Joanne Mallon, Sainsbury's Home Insurance manager, said: "We spend thousands of pounds each year running our homes and have often invested even more money on furnishings and decorating."

But by investing in energy efficiency, Britons may achieve lower gas and electric bills.

Steps can include improving insulation, switching off electrical items when not in use and purchasing heating controls.
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