2024 UK Houzz & Home Renovation Trends Study
Overview of Home Renovation in 2023 and 2024
Findings from a survey of 1,848 UK homeowners on Houzz about their home renovations in 2023 and plans for 2024.
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Renovation spend has surged in the last three years, as median spend* increased 13% from £15,000 in 2020 to £17,000 in 2023. The top 90th percentile of spend also doubled to £200,000, from £100,000 in 2020. While renovation activity remains consistent with 48% of homeowners having taken on a renovation project in 2023, this is down a percentage point from last year.
Gen Xers lead in median spend, while Baby Boomers drive renovation activity
Gen Xers** spent the most on renovation projects for the second consecutive year, with their median spend at £22,000, compared with Millennials and Baby Boomers at £15,000 and £16,000, respectively. The top 10% of spenders in these groups allocated substantial budgets, with Gen Xers at £200,000 and Baby Boomers at £180,000. While Gen X leads in spend, Baby Boomers continue to drive renovation activity (54%), followed by Xers (34%) and Millennials (12%).
Homeowners hire pros for help with their projects
Nearly all renovating homeowners enlisted the help of a home professional in 2023 (93%), with specialty service providers such as electricians (59%), and plumbers (52%), hired most frequently.
Cash is king, but credit card usage jumped
Cash from savings continues to be the most common form of funding for renovation projects (86%), followed by credit cards and cash from a previous home sale (18% each). Credit card usage jumped 7 percentage points in 2023 (10% in 2022).
Bathrooms lead in project activity
Bathrooms continue to lead as the most commonly renovated interior room (29%), closely followed by kitchens and living rooms (26% each). Following last year’s significant jump in median spend for bath and kitchen projects, these renovations saw increases of 39% and 16% respectively, reaching £7,300 for bathrooms and £15,100 for kitchens in 2023.
Outdoor projects back in the spotlight
Following a brief drop, outdoor project activity rose 17 percentage points in 2023 (51%, compared with 34% in 2022). Outdoor lighting is the most commonly updated outdoor system (28%). Security systems follow (15%, up nearly 2 percentage points from last year), as homeowners install cameras and sensors around their properties.
* Median spend is the midpoint level, meaning half of renovating homeowners on Houzz spent more and half spent less.
** Generational categories follow Pew Research Center’s age ranges: Millennials (25-39), Gen Xers (40-54) and Baby Boomers (55-74).
Download the entire study