Cost of living crisis forcing Britons to sell possessions, poll finds

Number of people trading in old items has risen by 72 per cent since last year, survey claims

Mobile phones were the items most likely to be traded in (PA Wire)

Millions of Britons are trading in items in a bid to make their money go further during the cost of living crisis.

A poll of 2,000 adults found one-quarter had sold their belongings to make cash.

It emerged one-fifth had traded something in within the last six months and of these, 31 per cent were doing so for the first time.

Mobile phones (39 per cent), cars (31 per cent) and clothes (22 per cent) were among the top things people sold.

Laptops (20 per cent), CDs (19 per cent), tablets (18 per cent) and games consoles (15 per cent) also made the list.

The research, commissioned by Vodafone, found this had contributed to a 26 per cent rise in the number of people trading in items compared to the previous six months, at 9.7 million compared to 7.7 million. Last year the figure was 5.6 million.

Max Taylor, consumer director for Vodafone, said: “People across the UK are understandably extremely value-conscious right now."

The surveyalso found that while financial benefits were the biggest driver for those trading in for the first time (57 per cent), other motivations include wanting to help the environment (36 per cent) and decluttering (32 per cent).

The average adult said they had made £221.50 this year from selling various goods. The estimated they had a further £287-worth of unused goods sitting at hom.

The main barriers for those who had not traded in before now were fear their goods would not be worth anything (33 per cent) and the assumption that it would be too much effort (23 per cent).