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Media centre /
Press releaseBRITS INVEST IN THEIR GARDEN21 May 2005PR 113_05 PF UNDER STRICT EMBARGO UNTIL 00.01 ON 21 MAY 2005
Brits spend a huge £4.2 billion a year on their gardens,* and while most see it as a relaxing haven, one in six (17%) view it as an investment, hoping to see an increase in the value of their property in return for spending in their garden, according to recent research from National Savings and Investments (NS&I), the government-backed savings and investment provider. Gardens are seen as such an asset that one in five (21%) Brits will spend their hard-earned savings on them. A further one in ten (11%) reach for the plastic - going into debt for their patch of Britain.** Watch your money grow More than twice as many men as women view their garden as an investment. One in four men (24%) cite a potential increase in their house price as the main reason for spending in their backyard compared to only 10% of women. This may explain why men spend slightly more on average per year than women (£227 compared to £208). Gardens are most seen as a money-maker by those aged 16-24 with 24% spending on the garden to increase the value of their property compared to a national average of 17%. This is also the only age group with more people investing in their garden for a monetary return rather than to encourage wildlife – only 21% of 16-24 year-olds rate this as important compared to an average of 32%. Top five reasons for spending on the garden
On average, we spend £217 a year on our gardens buying new plants, garden furniture and landscaping. Even those in rented accommodation will spend an average of £155 a year. The most popular reason for spending on the garden is to create a relaxing space for the family (59%). Over half (57%) justify horticultural outgoings as an investment in their own relaxation while a third are giving back to the environment – 32% spend money on their garden to encourage wildlife. However, some feel pressurised into spending on their backyard either by a sense of duty (16%) or to impress the neighbours (4%). Hedging your bets Nicholas Leeming, director of national property website propertyfinder.com, comments: “Gardens play a hugely important role in selling homes and can add significant value to a property. Our research shows that well tended front gardens are the most important factor that attract buyers to a street. Back gardens are even more important. “Simply having a garden can enhance an average property's value by perhaps up to 15% as a rule of thumb. As always, the closer matched the style of garden is to your target market, the quicker you can expect to sell and the more money you can bank on raising.” Unique investments Karen Jones, marketing director at NS&I explains: “There is an increasing trend among savers for more unusual investments, from property to art to even wine. Gardens are an extension of this but savers should ensure they have also have savings in a secure and accessible savings product to cover any unforeseen circumstances. For those looking for a unique investment which combines security, access and excitement, Premium Bonds may be the perfect solution.” NS&I is sponsor of Ellen Landscape Designs ‘Moat and Castle’ garden – one of the main show gardens at this year’s Chelsea Flower Show. The Show takes place 24 – 28th May 2005 in the grounds of the Royal Hospital, London SW3. ENDS Notes to Editors The National Savings and Investments survey among 1,003 adults was conducted by TNS via PhoneBus, 6-8th May 2005. * Current number of GB households is 24,350,000 – Marketing Pocket Book 2005. 80% of population have a garden. Average spending per person per year is £216.87 1. National Savings and Investments is one of the largest savings organisations in the UK, offering a range of savings and investments products, from Premium Bonds to Inflation-linked Savings, to 26 million customers. All products offer 100% capital security, because they are backed by HM Treasury. 2. Currently 23 million people own £26 billion worth of Premium Bonds. Premium Bonds, introduced in 1956, will celebrate their 50th anniversary next year. 3. NS&I is sponsor of Ellen Landscape Designs ‘Moat and Castle’ garden – one of the main show gardens at this year’s Chelsea Flower Show. The Show takes place 24 – 28th May 2005 in the grounds of the Royal Hospital, London SW3 4. We have a number of spokespeople available for interviews via our ISDN line: 020 7602 4522. 5. Further information on NS&I, including press releases and product information, is available on the website at www.nsandi.com. You can also contact the NS&I Media Team. **How do you fund your gardening expenses?
Do you spend money on your garden to:
Ellen Landscape Design For press passes or more information on the Show contact:
UNDER STRICT EMBARGO UNTIL 00.01 ON 21 MAY 2005
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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