Householders would be willing to pay £95 on average to ensure their home is burglar-proof over the next 12 months, a report by the Centre for Economics and Business Research (CEBR) suggests.
Younger residents are willing to pay significantly more, with 18 to 24-year-olds happy to hand over £238 on average, compared to just £45 for over-65s.
Pet owners would also pay more to make their home burglar-proof. They would fork out £113 on average, compared to £55 for those without pets.
On the lookout: Pet owners would pay more to make their home burglar-proof – they would fork out £113 on average, compared to £55 for those without pets
People living in areas with higher burglary rates are willing to pay significantly more than those in low-risk areas. For example, households in London and the North East would pay £113 on average, while those in Northern Ireland, the South West and Scotland would pay £75, the research carried out for home security system firm Ring found.
Owen Good, head of economic advisory at the CEBR, says UK households would pay a combined £2.7 billion per year to guarantee the security of their home.
‘In terms of age split, interestingly it’s the younger age demographic who are willing to pay the most, potentially as a result of the higher perceived likelihood of burglaries within this group,’ he says.
On average, 527 homes were burgled each day in England and Wales last year, data released last week from insurer Churchill revealed.
More than half of those burgled were in the property at the time. The average value of items stolen was £1,368.
