@jacqueline I would estimate the maximum reasonable amount to pay for a phone is probably about £500 but my current phone was about 50% more than that, which I was begrudgingly willing to pay.
My last phone was a desperation purchase 5 years prior to this one (my previous-to-that phone being Very Worn Out and no longer in support), and 5 years is the absolute minimum I accept getting from a phone. I'm aiming for 8, which historically the duration of OS security updates for my phone. But I would much rather it was 10/12 years.
When I was younger, smartphones were much worse and the gap between generations much higher, so I was willing to put up with higher frequency of replacements, but I strongly believe there should be no reason for buying a phone more frequently than 5 years these days. In practice, there *are* reasons (mostly OS support lifetimes being WAYY too short and repairs being difficult to access for many people), so I do not begrudge people having to replace their phones more often, especially those in the budget/midrange phone-buying world.