Surge in home improvement spending expected in 2017

Nearly one quarter of property owners are planning to spend more in 2017 on home improvements in at least one area in their accommodation.

The latest research from Plentific.com indicates that there will be steady growth in the popularity of home improvements throughout the year.

Areas of Improvement

Assessing individual areas, flooring is set to see the largest increase, with an average of 29% of people looking to spend more on this feature in 2017.

Homeowners in Sheffield were found to be most likely to spend more on this area, with 45% of property owners outlining their desire to do this.

Following flooring, the next features that homeowners were more prominently looking to improve their kitchen, bathroom and interior décor-all runners up with 27%.

Next came the living room and bedroom, with 25% of owners more likely to spend most in these rooms.

According to the research, homeowners were less likely to spend money on updating their conservatory, appliances and lighting.

Surge in home improvement spending expected in 2017

Surge in home improvement spending expected in 2017

Capital Gains

In London, 38% of homeowners said they were planning to stand more on their bathrooms in the coming year. This was followed by flooring and the living room.

On average, one third of Londoners said they wanted to spend more money on at least one area of their home during 2017.

The full research of what areas of improvement people in the UK and specifically in London are likely to make this year were found to be:

 

UK                  London

Flooring 29% 37%
Bathroom 27% 38%
Interior Decor 27% 28%
Kitchen 27% 27%
Living Room 25% 36%
Bedroom 25% 29%
Garden 20% 25%
Conservatory 18% 31%
Appliances 17% 29%
Lighting 17% 24%

[1]

 

Stephen Jury, spokesperson or Plentific, noted: ‘Our statistics illustrate the growing shift in demand for home improvements across the UK. Nearly a quarter of homeowners are upping their budget this year for at least one area of their property with flooring leading the way.’[1]

‘We’re also seeing this demand first-hand as we had a record month of jobs posted on Plentific.com during January; a particularly large number of them being flooring jobs, especially in the Greater London area. One thing’s for sure, tradesmen are going to be busy in 2017,’ he added.[1]

 

[1] http://www.propertyreporter.co.uk/household/home-improvements-to-see-spending-surge-in-2017.html

 

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