We recently conducted comprehensive research to uncover the average engagement ring price in the UK, aiming to understand how much men spend on engagement rings for their brides-to-be. By analyzing data from over 2,000 diamond engagement ring purchases in the past year, we have gathered valuable insights into spending trends across the country.
Our study revealed that the average cost of an engagement ring in the UK is approximately £1,329. This figure provides a baseline for what most people are willing to spend, but spending habits vary widely depending on personal budgets, preferences, and regional trends.
The amount spent on diamond rings differs significantly across the UK. Here’s a regional breakdown of the findings:
Northern Ireland: Leading the way as the biggest spenders, with an average spend £1,874.
Scotland: Following closely, men spend an average of £1,816 on their diamond engagement ring.
London: Unsurprisingly, Londoners represent the highest spenders in England, with an average cost of £1,681.
Wales: At the other end of the spectrum, men in Wales spend the least, with an average cost of £603.
East of England: Spending an average of £955 on engagement rings.
South West: Completing the bottom three, with an average spend of £971.
This data highlights stark differences in spending habits, which may reflect regional economic disparities, cultural attitudes, or individual priorities.
Traditionally, it was believed that a man should spend the equivalent of one month’s salary on an engagement ring. However, with the average UK salary Hovering around £30,000 annually, our reach suggests that men are spending considerably less than this conventional benchmark. After taxes and deductions, the actual spending aligns more with affordability rather than adhering to an outdated rule.
With ongoing economic challenges in the UK, it is no surprise that couples are rethinking their approach to engagement ring spending. Instead of focusing on purchasing the most expensive ring, many are prioritizing choosing a diamond ring that their partner truly loves. This pragmatic approach allows couples to allocate more of their budget towards other significant expenses, such as wedding costs, a honeymoon, or even saving for their future together.
