To me, because I’m careful with my phones, the price on contract is almost self financing…
True, but it’s even more self financing if you go sim free.
Bascially over the 24 months of a contract the iPhone 5 + calls, texts and data will cost a minimum of £1k
A sim free phone + an equivalent contract for contract for calls, texts and data will be <£900, significantly less if you don’t need lots of inclusive minutes.
You can still sell the phone when you are done with it for the same price and if you get upgrade fever its even easier to go early but get more resale for the old phone.
Unless you don’t have £500 available I can’t see why people would ever get the phone linked to a contract. If you don’t have £500 in cash available you have to question the wisdom of having a top of the range phone there always interest free credit cards!