The Lloyds Bank Insurance Britain at Home report shows that home owners aged 25 to 34 year olds spent an average of £647 on their outdoor spaces in the past year, nearly double the average UK spend of £366.
Some 29% said that this expenditure is driven by a love for gardening, for 19% it is entertaining guests outside and 14% aim to increase their property's value.
The third Britain at Home report also shows that 19% of the new green fingered generation now owns a greenhouse and 29% have invested in new trees, plants and flowers for their gardens in the past year.
As gardening programmes and the trend for growing your own vegetables undergo a renaissance, some 34% of all home owners say they are spending more time improving their outdoor spaces, while 33% admit they are spending more money on doing so compared to five years ago.
The study also found that money is not just being spent on horticultural items either, with the most popular accessories for the garden now including outdoor furniture, owned by 81% of British home owners, barbecues by 49%, bicycles 37% and trampolines 10%.
‘We've witnessed a real return to homeliness, with everything from gardening, baking and cookery, to knitting and crafts coming back in style. It's interesting that this trend is growing against the rise of technology and in a post recessionary climate. There is a sense of holding on to traditional pastimes in an increasingly fast paced, modern society,’ said Frances Tophill, horticulturalist and presenter of ITV's Love Your Garden.
‘With the current waiting list to snag an allotment longer than that of any new restaurant, there is no doubt that gardening is growing in popularity among a younger generation and people are enjoying spending more time outside,’ added Tophill.
Despite home owners' willingness to spend time and money on their outdoor spaces, 37% admit that they do not have a secure lock for their garden and 24% admit none of their outdoor items are insured.
‘With a blossoming culture of green-fingered outdoor enthusiasts, the value of our gardens may be higher than we think, especially once everything from tools and toys to bikes, furniture and flower beds is taken into consideration,’ said Tim Downes, senior claims manager, Lloyds Bank Insurance.
‘With the latest crime figures showing over a million thefts from gardens and outdoor spaces took place in the year to September 2013, home owners should make sure their outdoor spaces are covered by their insurance policies, and securely locked,’ he added.
