Britain turning a nation of hoarders?
September 16th, 2011 - 8:24 pm ICT by IANSLondon, Sep 16 (IANS) Britain is becoming a nation of hoarders, a new research has found.
With interest rates being low, people in Britain have started either to invest in art or antiques or hang on to heirlooms, Daily Express reported Friday.
The average home now has 3,555 pounds (about $5,600) worth of gold, 10 percent more than last year, a British price comparison website, moneysupermarket.com Monitor found.
The Monitor, which has analysed almost three million home insurance quotes between June 2010 and May 2011 also found that British households on an average are currently insuring coin and medal collections worth over 4,400 pounds each, stamp collections worth 6,138 pounds, paintings and works of art worth 4,209 pounds, furs worth 2,819 pounds and nearly 3,500 pounds-worth of antiques.
Head of home insurance at MoneySupermarket Julie Fisher said: “Perhaps many are shunning traditional savings routes, buying gold and antiques rather than put money in the bank.”
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Tags: antiques, art worth, british households, daily express, furs, gold, hoarders, home insurance, insurance, insurance quotes, interest rates, julie fisher, london, money in the bank, moneysupermarket, paintings, price comparison website, stamp collections, works of art