Britons 'cutting back on Christmas spending'
The average cost of Christmas this year is likely to be 35 per cent less than it was ten years ago as Britons cut back on their festive spending as the recession continues to make budgets tight, it has been revealed.
According to research by Saga, only 13 per cent of people have plans to use their savings to help fund this year's celebrations, compared to 31 per cent in 1999.
Furthermore, adults are planning to spend an average of £435 on gifts for loved ones, compared to £516 a decade ago.
And this year, 52 per cent of Britons have plans to use their regular income to cover Christmas costs, while during 1999 just 33 per cent adopted this approach.
People looking for flats to rent in Shoreditch or another part of London may find they have more money left over to spend on presents than they would if they took on a mortgage for a property in the same area.
Andrew Hagger, spokesperson for Moneynet.co.uk, recently advised that consumers should begin saving now for next Christmas.
Written by Andy Britten
Published 3rd December, 2009
© 2009 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
St John's Wood brings the village atmosphere to the capital
St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle.
Read Article ... Published on 26th May, 2015
Yeading: Enjoy peaceful city living in an up-and-coming area
Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.
Read Article ... Published on 26th May, 2015
Hanwell: A green, peaceful environment for Londoners
Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.
Read Article ... Published on 26th May, 2015
Mitcham Carnival announced for June
Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.
Read Article ... Published on 22nd May, 2015
Hammersmith and Fulham Council start Park consultation
Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.
Read Article ... Published on 22nd May, 2015
New conservation areas planned around Waltham Forest
Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre.
Read Article ... Published on 20th May, 2015
Sutton Council announces Take Part Take Pride summer festival
Sutton Council has announced its Take Part Take Pride summer festival.
Read Article ... Published on 20th May, 2015
Brent Council teams with Brent Housing Partnership in new project
Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.
Read Article ... Published on 19th May, 2015
Gardeners prepare for Islington In Bloom
Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.
Read Article ... Published on 15th May, 2015
New fitness centre set to open in Manor Park
A new fitness centre is expected to be opened in Manor Park by Newham Council.
Read Article ... Published on 15th May, 2015
More people will be spending less on Christmas this year as the recession rumbles on, new research has revealed - although Britons may find they have more cash to splash on celebrating if they choose to rent rather than buy a London home.