The cost of raising a child to the age of 21 has soared to £222,458, with parents paying 58% more than a decade ago, according to a study published today.

The annual 'cost of a child: from cradle to college' report by insurer LV= found that the average cost is up by more than £4,000 since last year.

Education and childcare continue to be the biggest expenses. The cost of education, including uniforms, after school clubs and university costs (private school fees are not included) has now reached £72,832 - up 124% from 2003. The report states that sending a child to private school would add on average £106,428 for a child attending day school, or £195,745 for a child boarding at school, to the overall cost of raising a child.

The cost of childcare has also risen. In 2013 childcare costs are put at £63,738 whereas ten years ago it was £39,613 - an increase of 61%.

London and the south east are the most expensive places to raise a family according to the study. The average cost in the UK is £222,458 whereas in London this rises to £239,123 and to £237,233 in the south east. The south west has seen the biggest rise - the cost of raising a child in 2013 is 78% higher there than a decade ago.

It will come as no surprise that with the rise in tuition fees, the most expensive years of raising a child on average are between the ages of 18 to 21. Here are some other findings from the study:



• The amount of pocket money given to children until they reach 21 has risen by 28% in the last decade, from £3,386 in 2003 to £4,458 now

• Costs of holidays and food have seen the highest increases since last year. Holiday costs now reach a total of £16,195 (up 4.3%) and food comes in at £19,270 for 2013 (up 3.2%)

• Education, furniture and childcare costs have increased the most in the last decade according to the research

• On average it is more expensive to raise a child in Northern Ireland than England, Wales and Scotland

• The most expensive years of raising a child on average are between the ages of 18 to 21, this is followed by children aged one to five

Mark Jones, LV= Head of Protection estimates: "that if the costs associated with bringing up children continue to rise at the same pace, parents could face a bill of over £350,000 in ten years time".

The survey also highlights the pressure felt by parents to provide their children with the latest technological gadgets. They found that almost a third (28%) of parents had bought their child an electronic gadget in the last 12 months, with the average yearly amount parents spend on gadgets (such as laptops, ipads/tablets) for their child coming in at £302.

The table below shows the breakdown of the costs of raising a child in 2003, 2012 and 2013. There are also tables showing the average cost by region and by age group. What can you do with this data?

Breakdown of the costs of raising a child, compared to last year and ten years ago Click heading to sort table. Download this data Category 2003 (£) 2012 (£) 2013 (£) % difference from last year % difference from 2003 Education* 32,593 71,780 72,832 1.5 123.5 Childcare & babysitting 39,613 62,099 63,738 2.6 60.9 Food 14,918 18,667 19,270 3.2 29.2 Clothing 11,360 10,781 10,770 -0.1 -5.2 Holidays 11,458 15,532 16,195 4.3 41.3 Hobbies & Toys 8,861 9,248 9,316 0.7 5.1 Leisure and Recreation 6,366 7,303 7,353 0.7 15.5 Pocket money 3,386 4,337 4,458 2.8 31.6 Furniture 2,074 3,373 3,462 2.6 66.9 Personal 925 1,143 1,155 1 24.9 Other 8,845 13,761 13,909 1.1 57.3 Total 140,398 218,024 222,458 2 58.4

Cost of raising a child by years Click heading to sort table. Download this data Age Cost: 2013 (£) % increase Notes First year 10,526 42.8 Years 1 to 4 58,020 50.2 £14,505 a year Years 5 to 10 47,147 52.8 £7,679 a year Years 11 to 17 53,920 59.8 £7,536 a year Years 18 to 21 52,845 77.3 £17,459 a year Total 222,458 58.4

Cost of raising a child by region Click heading to sort table. Download this data Region 2003 (£) 2013 (£) Difference (%) North East 127,294 206,495 62 North West 131,151 215,285 64 Yorkshire & Humber 123,630 213,123 72 East Midlands 136,960 217,868 59 West Midlands 129,889 228,220 76 East of England 143,944 233,363 62 London 158,411 239,123 51 South East 151,394 237,233 57 South West 128,123 228,200 78 England 140,407 223,008 59 Wales 140,473 207,120 47 Scotland 135,200 225,338 67 Northern Ireland 140,314 232,883 66 Average UK 140,398 222,458 58

• DATA: download the full spreadsheet

• SOURCE: LV=

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