NEWS EXTRA


£50b spent on home improvements in last 12 months despite cost-of-living crisis


British homeowners have refused to sacrifice home improvements, spending a collective £56 billion* in the last 12 months according to Checkatrade’s annual Home Pride Index. Despite the tumultuous year,


our love for our homes remained, with over half of homeowners (55%) polled** proud of their home in comparison to 49% 12 months ago – a sign of how the current cost of living environment is making us appreciate what we have more than ever before. In the latest Home Pride Index, Checkatrade explores how we continued to shake off lockdown living and embraced a hybrid work lifestyle. While the economic uncertainty saw us invest in smaller, affordable ways such as painting walls and ceilings (29%) and getting new soft furnishings (26%) to freshen up our spaces.


In a year that saw rising mortgage costs and the highest inflation rate in 30 years, turning our attentions to improving our homes seemed more appealing than ever. However,


increased prices


of raw materials, supply chain delays and shortage of available tradespeople also meant that homeowners were


spending


more on projects than previously. Overall, homeowners around the country spent on average £3,375 on home improvements – £669 more than in 2021. This rises to £5,940 for homeowners from Glasgow. Improving or renovating the kitchen saw homeowners spend on average £1,106 which was


more than any other room.


However, it was loft installations which saw the biggest spike in investment compared to 2021 with an increase of 432%3. Top reasons for doing work to the home include spending more time there, wanting to improve surroundings (32%), fixing wear and tear (30%) and being more efficient in response to the energy crisis (23%).


MOST POPULAR CHANGES MADE AT HOME IN 2022 Painting walls/ceilings


Redecorated the living room


New cushions and soft furnishings Redecorated a bedroom Repainting the shed/fencing Gave the bathroom a makeover Purchased new furniture Revamping the garden Installed new windows Building flatpack furniture


www.diyweek.net


Mike Fairman, CEO at Checkatrade said: “Homeowners are more resilient than ever, not letting the cost- of-living deter them from home improvement projects. With the current uncertainty of the housing market, increased investments in spaces like lofts suggest homeowners are looking to make the most of what they have versus selling up and purchasing another property, and are seeking support from experienced tradespeople to help.”


29% 26% 26% 24% 23% 22% 22% 22% 21% 21%


But even though Brits invested more in their homes in the past year, over six in ten (61%) admitted they spent less money on their home than they would have liked because of the cost-of-living crisis.


They instead pivoted


to smaller, more affordable changes to refresh their living spaces, including painting walls and ceilings (29%), redecorating the living room (26%) and getting


*£50.6 billion figure based on 15 million households owning their home in the UK (source: The English Housing Survey 2018-2019)


**2,597 British homeowners were surveyed online between 20th December 2022 - 4th January 2023 and 6th-9th January 2023 by OnePoll


FEBRUARY 2023 DIY WEEK 7


new soft furnishings (26%). Homeowners from Newcastle, Southampton and Glasgow are the most house proud than any other city4 – with Leeds coming in last.


the most


The Scottish city also spent time


tidying their


property – five hours and 43 minutes each week – and used the most tradespeople with a total of seven.


Newcastle took the lead for having the lowest number of unfinished DIY jobs in their home compared to the previous year. London moved from being the second most house-proud city in 2021 to sixth position in 2022, while Brighton and Hove, which was previously in joint seventh place with Southampton, fell to fifteenth.


Fairman adds: “It’s indisputable that a house is more than a home, and the nation’s pride in where they live remains despite the numerous challenges faced over the year. “Whether it’s injecting colour into the living room, undertaking a loft conversion or reducing its carbon footprint, taking care of your home can help your home take care of you. “The nation’s growing focus on making smaller,


everyday


changes to give spaces a refresh is set to continue throughout 2023 and we cannot wait to see what new (and old) trends this year brings.’’


• To download the report visit www.checkatrade.com/blog/ news/home-pride-index-2023.


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