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PLANNED RENOVATION SPEND INCREASES
YEAR OVER YEAR
Home renovation activity continues into 2022, with nearly
half of homeowners planning to renovate (49%) and more
than half planning to decorate (55%) this year.
Homeowners’ planned spend has increased to £10,000
for 2022 versus £7,000 in 2019, a 43% jump.
Homeowners with higher-budget renovations (the top 10
percent of spend) are planning to spend £100,000 on
projects in 2022 compared with £75,000 in 2021.
RENOVATION ACTIVITY & SPEND HIT FOUR-YEAR
HIGH
Home renovation activity and spend are at the highest
rates reported since 2018. More than half of
homeowners (53%) renovated in 2021, up four percent
from 49% in 2020. Homeowners recorded a 20% jump
in median renovation spend at £18,000 from £15,000 in
2020.
SWITCHING UP INTERIORS
Investments in interior rooms remained the priority for
three in four renovating homeowners in 2021 (75%).
Kitchens are both the most popular interior room to be
upgraded and the room that commanded the highest
spend at £12,000. Interior rooms that saw the most
dramatic increase in popularity from the previous year
included entrance or boot rooms (26%), dining rooms
(25%), utility rooms (20%) and home offices (18%).
DEMAND FOR HOME PROFESSIONALS
Homeowners sought help from professionals for their
renovations in 2021 (92%) more often than in the year
prior (88%). Homeowners relied most heavily on the
expertise of specialty service providers such as
electricians (58%) and plumbers (53%) for their projects.
That said, builders (34%) and architects (23%) were the
most hired professionals in construction and design-
related services and saw a significant jump in 2021
compared with 2020 (30% and 18%, respectively).
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