Well, with those kinds of expenses, you've just put me off dating for life...xD
£1,000 after one year? The average salary in the UK is £26,500; take away income tax and average costs for housing, transport and food and you're left with £10,612.80 by my calculations. This is before further tax deductions - like council tax, charitable donations, holidays, etc. - which can take away a few more thousands. You're now easily looking at over a tenth of your annual income going towards buying that first ring after one year :/
Speaking as a guy, and please don't be disappointed, but I don't think I'd spend that much at all on anniversary gifts - not for the first five years, anyway.
For marriage, yes I might spend that amount of money on anniversary gifts (and I reason that I'd have a higher income than in my youth so as to be able to afford it) - but not for pre-marital dating. One year isn't even relatively "long-term" when we talk about pre-marital dating.
Moreover, when dating (and afterwards in marriage!), I'd probably spend the same amount of money in smaller expenses throughout the year - in paying for restaurants, trips to the cinema, weekend breaks to the beach, etc. I'd rather be rich and able to spend money on quality time with my girlfriend and building good memories of these quality times rather than poor and wasting money on symbolic gestures of anniversary gifts. The best relationships aren't found on materialistic exchanges of gifts: they're found in good memories and a love for each other. Anniversary gifts are nice, but they shouldn't be a priority: the money, in my view, is better spent on building those kinds of good memories, and not on anniversary gifts which are going to be resold or recycled 10 years down the line and then promptly forgotten about.