This is a report of the findings from a survey of 3,281 UK homeowners on Houzz about their home renovations in 2021 and plans for 2022.
Houzz is an all-in-one resource for homeowners working on a home renovation or decorating project. They have a large and engaged user community which enables insights into the latest market trends based on users’ home improvement activity
METHODOLOGY
Houzz conducted an online quantitative survey of 3281 UK registered Houzz users (aged 18 years old and over and homeowners) regarding trends in home improvement and design. The survey was in field between March and April 2022
KEY FINDINGS
- Renovation Activity and 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. - Planned Renovation Spend Increases Year on 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. - 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). - 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%).
Homeowners are clearly committed to investing in their homes despite heightened product and material costs driven by supply chain disruptions, and are exploring diverse funding sources. This is especially pronounced among recent homebuyers, who rely heavily on cash from previous home sales to fund their projects and spend significantly more than the national median
Marine Sargsyan, Houzz staff economist.
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