The annual Houzz & Home Survey has revealed an 11% rise in the money spent by homeowners on kitchen renovations in 2018, and a 9% growth for bathrooms.
Average spend per kitchen renovation was £10,000, up from £9,000 in 2017. Bathroom spend rose from £4,000 to an average of £4,350 per renovation.
The Houzz & Home Survey this year polled more than 7,500 registered users of Houzz UK’s website and mobile app in April 2019.
The figures suggest that renovation activity remained strong throughout 2018. Of those homeowners surveyed, more than half renovated on average three rooms per project, with an average spend of £18,000. Perhaps unsurprising was the news that 74% of renovation activity was by those aged 40 and over – Generation X-ers (40 to 54) and Baby Boomers (55 to 75).
Interestingly, of those renovating their primary homes, 28% used a kitchen designer or fitter and 21% a bathroom designer or fitter, although 30% said they used their builder.
“Despite a number of headwinds for the global and national economy, renovation activity continued to keep pace in 2018 and is building on a strong momentum in 2019,” said Nino Sitchinava, Houzz principal economist. “Pent-up demand continues to drive renovation activity, while spend on discretionary projects, such as kitchens, continues to grow, fuelling home-related investments.”
The report offered further insight into the reasons behind renovation activity. The most popular reason, with 75% of surveyed homeowners, was “improving the design/look and feel”, while the lowest priority (13%) was to “integrate smart technology”.