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Robyn Hall
Just Retirement is going on the road over the next few months. This seminar is in London.
Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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Family worth set to grow despite crunch
22 August, 2008
Britain may be teetering on the brink of recession but the value of the average British family’s possessions is set to increase in the next five years.
The new research by MORE TH>N insurance predicts that the typical ‘lifesworth’ of British nuclear families - the ‘average’ family of two parents and 2.4 children - will rocket from £70,848 to £90,422 by 2013. The increase of almost 30% (£19,574) will be generated as people look to improve their living-space by upgrading their furniture and possessions, rather than risking a house-move while the property market is so volatile.
But it’s not the just the next five years that bode well for nuclear families- the next two decades look pretty rosy too. In 10 years, the average family will be worth £124,692 and in 15 years, £159,408 - that’s increases of 75% and 125% respectively.
The figures were calculated as part of MORE TH>N’s Lifesworth project, which shows how an individual’s value increases and decreases as the decades tick by or their circumstances change.
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