Download the Full ReportHOME RENOVATION SPEND RISESHome renovation spend has grown 36% in the past year to a median £15,000, from £11,000 in 2019. Higher budget projects (with the top 10% of project spend) reached £100,000 or more in 2020.
ACTIVITY CONTINUES THROUGH 2021The busy renovation market will continue through 2021, with 51% of homeowners planning to renovate this year, up five percentage points since 2019 (46%). More than half of renovating homeowners also plan to decorate or furnish their homes in 2021 (56%).
HOMEOWNERS INVEST IN KITCHENSTwo thirds of homeowners made major changes to their kitchens, such as altering the layout, and over half made upgrades to plumbing, electrical or heating (64% and 63% respectively). Two in five homeowners increased the size of the kitchen and reframed, moved or added walls during renovations (44% and 42% respectively).
OUTDOOR PROJECTS HEAT UPOutdoor projects have increased in popularity over the past year, with 2020 showing a 13 percentage point increase (60%) among renovating homeowners. Improvements to outdoor spaces were directed towards the grounds, with beds or borders and planters or planter boxes seeing significant growth in popularity (36% and 31% respectively).
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HOME RENOVATION SPEND RISES
Home renovation spend has grown 36% in the past year to a median £15,000, from £11,000 in 2019. Higher budget projects (with the top 10% of project spend) reached £100,000 or more in 2020.
ACTIVITY CONTINUES THROUGH 2021
The busy renovation market will continue through 2021, with 51% of homeowners planning to renovate this year, up five percentage points since 2019 (46%). More than half of renovating homeowners also plan to decorate or furnish their homes in 2021 (56%).
HOMEOWNERS INVEST IN KITCHENS
Two thirds of homeowners made major changes to their kitchens, such as altering the layout, and over half made upgrades to plumbing, electrical or heating (64% and 63% respectively). Two in five homeowners increased the size of the kitchen and reframed, moved or added walls during renovations (44% and 42% respectively).
OUTDOOR PROJECTS HEAT UP
Outdoor projects have increased in popularity over the past year, with 2020 showing a 13 percentage point increase (60%) among renovating homeowners. Improvements to outdoor spaces were directed towards the grounds, with beds or borders and planters or planter boxes seeing significant growth in popularity (36% and 31% respectively).
Download the Full Report
See the Press Release