Brits spend billions buying cats and dogs

Pet worshipping Britons have spent £2.6 billion purchasing pet cats and dogs in the last five years, (that’s £520 million each year) according to new research from Halifax Pet Insurance.

Over the past five years British dog lovers spent £2 billion purchasing canines at an average of £282 per animal, while cat lovers spent £639 million buying felines in the last five years at an average of £92 each.

Average cost of purchasing a dog in Britain is £282 and £92 for a cat

59% of Britons did not investigate the upkeep costs for their pet before purchasing

Pet owners underestimate cost of vet bills by 103%

A dog is still a man’s best friend as chaps are prepared to shell out more for a pooch

While they were happy to part with significant amounts of money for their pet, many (59%) cat and dog owners admitted that they didn’t investigate simple costs such as food or veterinary care before collecting their pet. Consequently the research also found that pet owners drastically underestimated the cost of veterinary care in the UK by a staggering 103%.

The research also confirmed that a dog really is a man’s best friend. Men parted with an average of £335 to purchase a pooch compared to £229 – the average amount spent on dogs by their female counterparts. Women however spent more purchasing cats – paying on average £127 per cat - 210% more than men who paid a modest £41 for each animal.

When it comes to sourcing a dog the research found breeders to be the most popular source –accounting for 40% of all dogs homed in the last five years. Encouragingly a further 23% were obtained from animal rescue centres, with 21% sourced from friends of the owner. By contrast just 8% of cats over the period were obtained from a breeder. The majority of cats were obtained from friends of the owner (31%) with a further 25% of animals coming from animal rescue centres.

Vicky Watson, at Halifax Pet Insurance, said: “The research reinforces the perception of Britain as a nation of pet lovers who are happy to spend large amounts of money to purchase their perfect pet. However, it is worrying that so few pet owners are researching the upkeep costs for their chosen pet before selecting an animal. The cost of upkeep between different breeds can vary enormously both in terms of food required and susceptibility to ailments that necessitate expensive treatment.

“Purchasing comprehensive pet insurance can mitigate the financial risk of a pet needing expensive treatment that an owner has not budgeted for. Those who choose not to take out pet insurance could find themselves liable for expensive vet bills and add financial pressures on top of the emotional strain of having to care for a sick animal.”