How much is YOUR stuff worth? Why the value of an average home’s items has jumped £16,000

The combined value of the average household’s possessions has grown by 38 per cent over the past five years, data shows, as Britons now own more pricey tech. 

The average value of possessions has grown to £58,210 as of 2024, from £42,180 back in 2019, according to research from insurance firm Aviva.

The 38 per cent increase in value compares to an inflation rise of just 25 per cent over the same period.

This is largely as a result of an increase in the number of possessions that people own, Aviva said, as well as the value of items increasing over the five-year period.

One of the biggest increases can be seen in the value of the average households personal devices, such as laptops, mobile phones and tablets.

These items increased by 48 per cent, reaching £5,196 in 2024, compared to £3,506 previously.

Tech-savvy: Younger people spend as much as £3,000 more on tech than the national average

Books have seen a considerable upswing in value, with the average home now owning £1,056 worth of books, compared to £791 in 2019.

Yet these only account for a small percentage of the total possession value.

Other big-ticket items may have had a larger effect, with main bedroom furniture increasing from £2,889 in 2019 to £4,879 today, while kitchen and bathroom fittings rose from £4,771 to £7,030.

The rising popularity of cycling has also had an impact, with the mean average value of such items up significantly to £4,463, from just £1,756 in 2019.

Aviva said this could be a result of increased demand for e-bikes and premium bicycles in recent years.

The median value of a household’s bicycles is less than £1,000, it said.

Younger generations drive uptick

Younger generations are leading the increase in the value of our stuff. Millennials, those aged between 25 and 43, have the highest estimated possession value.

The average millennial household contains £8,267 worth of tech – more than £3,000 over the national average.

A similar trend can be seen in jewellery, with the average millennial household possessing £8,233 worth of such items. This compares to an average across age groups of £5,727.

Despite the trend of younger people spending more on possessions, older generations have higher-value furnishings than their younger counterparts.

Over 75s own furnishings, such as curtains and carpets, worth an average of £3,929, £1,000 more than younger people.

Not enough people are protected

Young or old, the common theme is that the average person has thousands of pounds worth of valuables in their home, and the worth of these items is increasing.

And yet, just a third of those living in privately rented homes have home contents insurance.

Hannah Davidson, senior underwriting manager, home and lifestyle at Aviva, said: ‘With UK households now owning items worth almost £60,000 on average, it is important they have adequate cover to protect their cherished possessions. 

‘People should pay especially close attention to the “sum insured” shown on a policy, ensuring this is sufficient to replace all their possessions.

‘Residents should also consider if any additional options would be suitable for their needs. 

‘For example, personal belongings insurance provides cover for items carried when away from home, such as phones and handbags, so it’s an important element of cover to have, particularly when considering the increasing values we’ve seen in the research.

‘In some cases, people may need to purchase specialist cover or list valuable items separately on policies. Every home and its contents are individual, so it is important people identify the right policy for their needs.’