Honeymoons are chosen over the house deposit new survey reveals
The annual National Wedding Survey reveals that, after a difficult period during the pandemic years, marriages are well and truly back with a bang.
The exclusive report shines a light on the latest trends, insights and cost of weddings and honeymoons, thanks to a study of more than 2,400 newlyweds across the UK.
The report revealed the average cost of a honeymoon is now £3,800 as fewer couples opt for UK-based staycations for their honeymoons now travel restrictions have been relaxed after a turbulent few years.
Beach holidays are once again the most in demand honeymoon type as more than half of couples chose to spend their honeymoons by the beach, compared to 44 per cent who prefer a luxury honeymoon and 35 per cent who chose to go all-inclusive.
Zoe Burke, leading wedding expert and editor of Hitched.co.uk, said: “It makes total sense that, after a long period of time with so many restrictions in place, couples want to get out there and start married life in the best way possible on a beach on their dream honeymoon.
“There’s plenty of time to save up for a house or start a family,” continued Zoe, "if that’s something that’s important to you.
"But there is only a limited window where you can celebrate your wedding and have the dream honeymoon.
"Our data shows that today’s couples are focusing on that as their priority now, and we love that for them,” added the expert.
The research also revealed what other financial goals couples have while they are planning and paying for their weddings.
While the average cost of a wedding currently stands at £18,400, the majority of respondents (89 per cent) say there was at least one other financial goal they prioritise alongside this spend.
More than half (58 per cent) saving for a big trip or honeymoon alongside paying for the wedding itself.
With the average cost of a house deposit across the UK revealed to be between £33,600 (in Wales) and £115,000 (in London), there’s no surprise couples are choosing to spend on honeymoons over house deposits.
Less than a third of newlyweds (32 per cent) say saving for a house is among their financial priorities after their wedding.
One in ten respondents also revealed they didn’t yet live together before marriage.
Despite this, a quarter of those surveyed (27 per cent) noted they are still saving towards family planning costs.
Data reveals 31 per cent of last year’s newlyweds already have at least one child under the age of 18 at the time of their wedding.
Paying off debt is another key point for many with 29 per cent saying this is one of their biggest priorities.
A fifth (22 per cent) are simultaneously paying into an "emergency fund" while 18 per cent plan to pay off student loans.
Verena Hallam, personal finance expert at Surviving to Saving, said for many a honeymoon is a once in a lifetime holiday.
"COVID has taught us that anything can happen and tomorrow isn’t promised, which has caused a lot of people to consider whether they have enough of a balance between long term goals and enjoying life now.”
For the full report visit www.hitched.co.uk/wedding-planning/organising-and-planning/average-uk-wedding website.