Kb-eye partner Houzz has released the results of its annual Houzz & Home UK report which reveals some interesting statistics, including the surprising consistency in the popularity of kitchen renovations – being shown as 28% in 2015 and the exact same again in this year’s report.
The survey focussed on more than 9,100 respondents in the UK and more than 185,000 globally and revealed that renovators of a recently purchased home spend more on their projects than other homeowners (£42,219 versus £38,783), and are also more likely to renovate more of their interior spaces and take on a larger amount of projects, compared to the average renovator (3.2 rooms versus 2.6 rooms, respectively).
Again, we find that when looking at the priorities of certain projects, bedrooms have, unsurprisingly, come out on top, though kitchens and bathrooms rate strongly in the overall statistics – proving the continued importance placed by homeowners on these popular spaces in the home. The increased number of new homeowners looking to renovate and the amount they are prepared to spend (£42,219 versus the average homeowner’s £38,783 spend) also highlights a trend toward people buying a home with the intention of renovating versus seeking an already “perfect” home.
The other primary findings in the year’s survey depict:
“2016 was another strong year for the home renovation market, with homeowners continuing to invest in their homes,” commented Marcus Hartwall, Managing Director of Houzz UK and Ireland. “While the majority of renovations are spurred by homeowners’ desire to upgrade a home they have lived in for some time, recent home purchases are also an important driver of home renovation activity. Recent homebuyers tend to do more, spend more, and are more likely to hire professionals to help with their renovation projects than other homeowners.”
See the full UK report from Houzz, available here.
Houzz | houzz.co.uk