How generous are Sunderland lovers when it comes to buying an engagement ring?

It’s the biggest moment in any relationship - but how much should you spend on the perfect ring to propose to your beloved?

Friday, 29th March 2019, 15:38 pm
Updated Friday, 29th March 2019, 15:48 pm
Sunderland lovebirds were among the lowest spenders in the country when it came to buying an engagement ring.

For Sunderland lovebirds it seems the answer is more frugal than other parts of the UK - with new data finding that the city’s prospective proposers were among the lowest spenders in the country.

While they might put as much effort as anywhere else into picking the perfect place (Stadium of Light perhaps?) and the perfect time, Sunderland’s romantics are canny with their cash - spending an average of £900 on an engagement ring.

That’s just over half of the monthly average wage, based on the average annual salary of £20,918, and a far cry from the old etiquette of spending two or three months salary on something you’ll expect your betrothed to wear for the rest of their lives.

How does the rest of the UK compare?

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While frugal however, Sunderland’s lovers were not the lowest spenders in the UK, with Burnley couples spending just £347 - the least in the UK, followed by Wigan and Bradford.

Romantics in London are the biggest spenders, paying an average of £8000 for an engagement ring, while Oxford was second in the list at £7,600, and Edinburgh third at £6,980.

The average cost of a wedding ring in the UK in 2018 was £1,483, with the old tradition of spending two months salary on the lifelong investment out the window in these days of austerity and Brexit uncertainty (in 2017, the year that delivered the brexit verdict, the average spend was just £785).

And increasingly couples are considering other factors such as where the diamond in the ring may have come from, and whether they should go for a diamond at all.

The new data was compiled by national antique silverware and jewellery outlet AC Silver, who analysed the price of engagement rings purchased through its site from customers across the UK over the past five years.

Andrew Campbell, founder of AC Silver said: “Much pressure is placed on individuals when planning a proposal, including finding the ‘perfect ring’.

“We believe wherever your location and whatever your budget, you should be able to treat your special someone to a stunning ring. Thankfully, long gone is the rule of having to spend the equivalent of two or three months salary to buy an engagement ring.

“Interestingly we have seen different spending habits across the UK. Buying an antique diamond significantly reduces the impact of precious stone mining and predominantly will ensure you gain the best value diamond or gemstone for your budget.”

Biggest spenders

London – £8,000 (£35,235)

Oxford – £7,600 (£29,495)

Edinburgh – £6,980 (£28,100)

Brighton – £6,442 (£25,356)

Bournemouth – £5,000 (£24,267)

Cambridge – £4,895 (£30,914)

Bath – £4,699 (£24,595)

Peterborough – £4,200 (£21,500)

Manchester – £4,125 (£32,500)

Salisbury – £3,988 (£24,127)

Most frugal

Burnley – £347 (£19,368)

Wigan – £600 (£27,283)

Bradford – £654 (£20,991)

Barnsley – £730 (£24,449)

Blackburn – £849 (£20.082)

Sunderland – £900 (£20,918)

Newcastle – £935 (£25,033)

Newport – £940 (£22,893)

Gloucester – £965 (£24,212)

Belfast – £995 (£25,579)