A survey commissioned by the estate agent comparison site found that 89% of us like to decorate our homes during the festive period, with 88% putting up a Christmas tree, while almost a third of us go the whole hog with Christmas lights on the exterior of our homes.
However, in the last year, the energy price cap has increased to £2,5000, a jump of 96% or £1,223. As a result, many households are struggling with the increased cost of running their homes and while it may be beginning to feel a lot like Christmas, it may not look like it this year. That’s because 66% of those who would usually put up festive lights on the exterior of their home will refrain from doing so this year in an attempt to curb the increasing cost of their energy bill.
What’s more, 22% of those surveyed stated that they would refrain from putting fairy lights on their Christmas tree this year due to the higher cost of their energy bill.
For those of us who do plan to put up Christmas lights, either outside or inside our homes, almost half (49%) said they would reduce the amount of time they leave them on compared to the previous year.
Colby Short, CEO and co-founder of GetAgent.co.uk, commented: “The rising energy price cap has been one of the driving factors behind the cost of living crisis and there will be many households who will be refraining from turning their heating on this Christmas, let alone putting up Christmas lights.
"At the same time, the increasing cost of mortgage payments has stretched our household finances even further and with the Bank of England likely to increase them yet again this December, many homeowners will be expecting a further hike to their monthly mortgage repayments.
"Of course, there are plenty of other ways to spread some Christmas cheer that doesn’t require an energy-sapping lights display, but for those who simply can’t celebrate without the twinkle of fairy lights, there are also some alternatives they could opt for.
"We certainly don’t recommend candles anywhere near your Christmas tree itself, but they can be a very cost-effective option elsewhere around the home. There are also plenty of energy-saving Christmas lights available and opting for those with LED bulbs will help reduce energy consumption.
"But you can also find a wealth of battery-operated alternatives that could help keep costs down without forsaking the festive feel. Whether you opt for fairy lights, fake candles, battery-lit tree decorations or even external displays, battery-powered items can help you keep a handle on your energy bills, while also getting into the Christmas spirit.”
