October 4, 2021
According to the survey of 3,000 UK householders by Houzz, kitchens were the most popular room for renovation, with the average spend jumping 15% to £11,500 in 2020, compared with £10,000 in 2019.
The average spend on bathrooms among survey respondents was £5,000 in 2020, up by a quarter over 2019.
Millennials (aged 25-39) increased their spend the most, shelling out 70% more compared with 2019 (£17,000 versus £10,000). Gen Xers (40-54) and Baby Boomers (55-74) upped their spend from an average of £14,000 to £15,000.
Top spenders on renovations drove the amount dedicated to higher-value projects up to £100,000.
Commenting on the results, Houzz senior economist Marine Sargsyan said: “While the pandemic caused initial concern for the residential renovation industry, many homeowners finally had the time and financial means to move forward with long-awaited projects in the past year. This pent-up demand, along with long-standing market fundamentals, empower homeowners to continue investing in their current homes.”
Good news is that, according to the survey, the boom in renovations is set to continue throughout 2021, with 51% of respondents saying they were planning to renovate this year – a 5% increase over 2019.
Kitchen renovations carried out included changing the layout of the kitchen (64%) and plumbing, electrical or heating upgrades (63%), while two-in-five homeowners increased the size of their kitchens and 42% added or moved walls.
Homeowners told Houzz that the top challenges they faced were finding the right providers (35%) and the right products and materials (33%). Almost nine out of 10 (88%) said they had hired professionals to undertake the work for them.
• Listen to the latest episode of our award-winning podcast by following the link below.
Have something to say? Email the editor