Home insurer finds parents spend over GBP300 on presents for children

Mon, 21 Dec 2009

The average amount that parents spend on a child at Christmas has now increased to £305, according to research conducted by Axa .

Kids now get almost £180 extra in presents each year than children 60 years ago. Despite the amount that parents are willing to expend on their children, most are in denial about what they actually spend, with their average estimate being only £84. On average, more money is spent on gifts for boys than girls as they ask for expensive computer consoles and games .

Nick Kidd, head of home insurance at Axa, said: "We have seen a significant shift in the value of gifts over the past 50 years with their monetary worth more than doubling since the 1980s."

Axa is warning consumers to check that their waterworks are in working order before they head off on winter breaks as leaking pipes could result in thousands of pounds worth of damage.
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