The home improvement market seems to witness rapid change almost daily. In just the last five years, there has been a surge in home improvement spending, with homeowners allocating larger portions of their budgets to renovations and repairs.
With higher living standards and low-interest rates, this has fueled a boom in home improvement, with many homeowners opting to improve their homes rather than move.
From overall market size to the industry that is going to witness the sharpest increase in prices, here’s a breakdown of the latest home improvement statistics.
- 1 Key Stats
- 2 US Home Improvement Statistics
- 3 UK Home Improvement Statistics
- 3.1 Top Reasons Why Homeowners Improved Their Homes In 2021
- 3.2 The Top 15 Jobs Homeowners Spent The Most Money On In 2021 (Based on Average Spend)
- 3.3 The Main Home Improvement Challenges Experienced By Homeowners In 2021
- 3.4 Homeowners In London And Liverpool Struggled The Most To Find Available Tradespeople
- 3.5 The Main Reasons Why Tradespeople Had To Delay Or Cancel Jobs In 2021
- 3.6 The Trades Most Affected By Materials Shortages In 2021
- 3.7 Covid Isolation Guidance Worsened Workforce Shortages In 2021
- 3.8 The Increasing Cost Of Home Improvements
- 3.9 86% Of Tradespeople Expect To Be Very Busy In 2022
- 3.10 Builders And Heating Engineers Are The Most Likely To Increase Prices In 2022
- 3.11 Get In There Early If You Need A Bathroom Fitter Or Tiler In 2022
- 3.12 The Top 20 Most Popular Home Improvement And Décor Trends On Tiktok And Instagram And How Much Value They Could Add To Your Home
- 3.13 The Home Improvements That Now Increase The Value Of Properties The Most
- 3.14 Kingston Upon Thames Is The Most Expensive Place To Build An Extension
- 3.15 Birmingham Is The Cheapest Place To Build An Extension
- 4 Demand For Electric Car Charging Points Shot Up By 400%
- 5 The Greenest Trades In 2022
- 6 Demand For Driveway Pavers Increased By 73% In 2021
- 7 How Tradespeople Are Planning To Adapt Their Businesses In 2022 To Respond To Increased Demand
- 8 Homeowners Will Spend The Most Money On More Space And Multifunctional Zones
- 9 1 In 13 Homeowners Want To Build A Home Bar In 2022
- The US home improvement market size is forecasted to reach $621.3 billion by 2025.
- By 2023, worldwide revenue for the smart home security market alone is expected to be about $31 billion.
- People aged 35 to 54 are the most likely to invest in home renovation.
- Kitchen remodeling has increased.
- 52% of Americans will spend $15,000 on home repairs.
- Home renovation should be done every 15 to 20 years if the house is in good condition.
- Home Improvement Market Size In The US is 538bn USD.
- Home Improvement Sales In Canada is 52.5bn CAD.
- Homeware Market Value In The Uk is 13.6bn GBP.
The break down is by US and UK categories:
US Home Improvement Statistics
- Home Remodeling Searches have more than DOUBLED from 2020 to 2021. They studied search trends for consumers looking for remodeling, kitchen remodeling, and general contractors in order to determine that interest has risen by a factor of two.
- An 8.7% increase in revenue for home improvement companies (IHS Markit).
- According to statistics from IHS Markit, when it came to getting a sale for home improvement services, companies saw an increase of up to 8.5%.
This is because more individuals (particularly baby boomers) were conducting internet research on the remodeling sector instead of merely looking for appliances like the finest nonstick pans and wine fridges.
- Remodeling businesses that reach out immediately to new leads via phone, text, or email will close transactions 20 times faster than their competitors who did not.
- In the United States, most houses need remodeling and improvement because around 80% of them are at least 20 years old. (Forbes).
- Around 40% of the country’s 137 million residences are 50 years old or more. This indicates that their appearance must be updated, as well as the current infrastructure.
- Home renovation statistics inform us that more than 50% of houses in the US were built before 1980. (NAHB).
- In addition to this data, we also know that roughly 38% of the total number of homes were built before 1970, which means that at least 12% more US houses were constructed between 1970 and 1980. The statistics on home renovation published before 2022 give us a good indication of how old most American homes are.
- For homeowners who want to save on insurance, there are five remodeling projects to consider. (Consumer Reports).
Putting in an alarm system; replacing the heating, plumbing, and electrical equipment; building a new roof; installing gas and smoke sensors; and providing a generator are just five of the initiatives covered. All of these will help you save money on your home insurance premiums.
- The US home improvement market size is forecasted to reach $621.3 billion by 2025. (Statista).
- Statista’s report reveals that the home renovation market size was $538 billion in 2021, and it’s very likely to increase by $82 billion until 2025.
- The leading home improvement chain in 2020 was The Home Depot, with sales exceeding $130 billion.
- According to the one percent rule, people should save at least 1% of their home’s value per year for maintenance. (Discover).
- Professional home office remodeling costs approximately $15,000. (HomeAdvisor).
While the average price for professional home office remodeling is $15,000, the exact cost depends on the type of renovation and the size of the room.
- A solid kitchen upgrade with new cabinets and countertops can cost around $25,000. (Forbes).
- According to the latest home renovation trends, a solid kitchen upgrade costs about $150 per square foot.
- Typically, kitchen renovation costs around 10% of the whole property value. As a result, the most expensive option might be $60,000, while the least expensive is $5,000.
- Single people are less likely to make home improvements than married people. (JCHS of Harvard University)
This is a 2013 statistic, and married couples with children between the ages of 55 and 64 spend the most on home improvements.
- There are four leading causes of death in the construction industry. (US Department of Labor)
According to construction and home improvement accident statistics, these four types of injuries include fatalities, being struck by objects, entanglement with structures or items, and electrocution.
- Smart homes will be a big part of the future of home improvement, with the global smart home market predicted to be worth around $53.5 billion in 2022. (Statista).
- By 2023, worldwide revenue for the smart home security market alone is expected to be about $31 billion.
- Spending on home improvement is growing at twice the rate of all the other categories of retail. (Forbes).
According to industry research, people are increasingly interested in home improvements, and they appear prepared to spend a lot of money on them.
- The worldwide DIY home improvement industry is forecasted to grow at a CAGR of 4.5% between 2021 and 2027. (gminsights.com).
- The worldwide home decor market will most likely reach $838.6 billion by 2027. (alliedmarketresearch.com).
- People aged 35 to 54 are the most likely to invest in home renovation.
- The home improvement services market is predicted to reach $585.3 billion by 2030. (Allied Market Research).
- In 2021, the US building material, garden equipment, and supplies dealer sales reached almost $40 billion. (Statista).
- As previously stated, DIY activities have been popular for a long time. According to figures from the home remodeling business, retail sales of equipment and supplies exploded from $29.6 million in January 2021 to an incredible $47.1 million in April 2021.
- In September, October, and November, the sales were all $39 million each month. This is the first time that monthly home renovation equipment, materials, and supplies sales have ever been this high.
- Kitchens remain the most renovated room in the home (Google Search Trends).
- Kitchen remodeling has increased by 23% in the last year, according to Google search trends for the home renovation sector. With more homeowners confined to the house, they appear to be seeking ways to make the most of their time spent in places they spend the most of their time.
An added benefit to kitchen renovations is that your home can be sold at a higher price in the housing market.
- 22% of homeowners will spend between $5k and $15k on projects (U.S Census Bureau).
The study found that the pandemic had not harmed any of these sectors. The renovation stores, remodeling business, home improvement markets, and building materials suppliers were all unaffected by the epidemic.
Through 2021, this market is anticipated to expand as more individuals purchase their renovation supplies online websites.
It’s also a good idea for contractors to sell their services on the internet in order to stay competitive and earn additional income streams.
- 12% increase of conversions from organic traffic from 2019 into 2020 (Hatch).
- Online advertising for the home renovation sector has been growing at a rapid pace, and this trend is unlikely to reverse. According to Hatch data, online conversions by home improvement merchants rose by 12% in 2019.
The ability to buy home improvement products online and have them delivered for home renovation projects is growing in popularity.
- 76% of homeowners aren’t traveling in 2021 (U.S Census Bureau)
According to the poll, many Americans are unlikely to travel this year. This allows homeowners to conduct more DIY projects and gives consumers greater confidence in businesses that deal with construction, disaster repairs, system upgrades, and remodeling.
- Home improvement industry is worth $120 billion for products alone (Home Improvement Research Institute).
- According to HIRI, the home improvement industry is worth $220 billion per annum and this figure is likely to rise.
- Home Depot made $110.2 billion in the last fiscal quarter of 2020 (The Home Depot).
- Despite the fact that it is beset by challenges, Home Depot has far exceeded financial targets in light of the epidemic. This is $12 billion greater than they amassed last year, when they recorded $97.3 billion in revenue for the year. That’s a lot of money made from selling the finest refrigerators and to toilets to consumers!
- Ace Hardware leads in customer satisfaction for all DIY home improvement stores (Statista).
This statistic, which comes from 2019, is still relevant two years later. The company was named the top in the industry by 840 people out of 1,000 polled.
- Smart homes are predicted to be worth $53.5 billion in 2022 (Statista).
This is critical if you want to sell your house soon. Renovations that include environmentally responsible and built-in technology are your best bet.
The addition of efficient air conditioning and heating systems to the home provides an advantage over their neighbors.
- 39% of homeowners in the US will pay for their projects in cash (US Census Bureau).
If you were worried about paying home improvement professionals with cash, don’t worry about it.
Some prefer this method.
- More than 50% of homes in the US were built before 1980 (NAHB).
Statistics show that a large number of American homes need remodeling solutions.
- A report from NAHB states that 12% of homes were built between 1970 and 1980.
- Home improvement is more popular for married people than for single people (Harvard University).
The home improvement market is more appealing to married couples.
These homeowners would want home improvements for better home equity, room additions, and lower mortgage rates through refinancing.
- 52% of Americans will spend $15,000 on home repairs in 2021 (Home Renovations Statistics and Trends).
The demand for home repair services has increased in recent years as a result of climate change, which is causing havoc in several states and the crumbling condition of many older American homes.
- Investments in infrastructure will reach $57 trillion in the US by 2030 (UNDP).
- According to the UN Development Program, US infrastructure will be worth 57 trillion dollars by 2030 as a result of rapid urban growth. It makes sense that so much money would be invested in infrastructure with a growing global population and more people purchasing houses in cities.
- Spending on house improvement is growing at twice the rate of other retail categories in the US (Statista).
- Customer credit utilization has decreased by 30% (Hatch).
The 2020/2021 period has been highly unpredictable, especially due to the economy’s downturn and an unstable political climate. Everyone, including those with substantial disposable incomes, is becoming less inclined to utilize credit for needless purchases and more cautious about incurring needless debt.
- €55.5 billion was spent on DIY and renovations in the UK alone in 2020 (Build Review).
In US dollars, that’s around $69 billion, suggesting that do-it-yourself and home improvements have been popular in North America and Europe.
- 75% of homeowners would like to finance part of their project as opposed to taking a loan (Hatch).
Financing a remodeling project can help you keep expenses low while avoiding hefty interest rates that might come with taking out a loan.
Having several financing choices is important to finishing a renovation project if funding the entire thing isn’t possible.
Homeowners worried about insurance can remodel five areas to decrease their insurance (Consumer Reports).
Consider renovating or adding an alarm system, upgrading your HVAC system, updating plumbing and electrical work, re-roofing your home, and installing gas and smoke sensors if you wish to decrease your insurance premiums.
These house renovation projects will help you save money on your insurance premiums while also increasing the equity in your property.
- The exterior replacements segment will account for over 18.6% of worldwide consumption in 2027. (GMInsights).
- The most popular home renovation projects for 2022 and beyond include exterior replacements, system upgrades, property renovations, and kitchen modifications and additions.
- 34% of DIY projects are done by younger people which is more than their older counterparts. (Harvard University).
- According to a recent study, young people (individuals under the age of 34) are more likely than their older counterparts to carry out DIY home improvements. The percentage of individuals aged 45-54 doing DIY home repairs is significantly lower than those between the ages of 35 and 44 (18%).
- Home decor is the most popular home improvement project in France. (Statista).
- According to statistics gathered through a poll of 1,008 French people, 48 percent said they were most interested in home design. In addition, 32% expressed interest in bathroom and kitchen renovation, 26% in thermal repair, 18% in electricity or plumbing improvement, 12% in façade restoration.
- In 2021, the best home improvement retail store for customers was Ace Hardware (Statista).
- Ace Hardware was one of the most important home improvement and DIY firms in 2021, according to market trends. Last year, this firm received 863 out of 1,000 points for customer satisfaction.
- Home renovation should be done every 15 to 20 years if the house is in good condition. (Carney Properties).
- Homes usually don’t need many repairs in their first five years. (Discover).
One of the most important home improvement facts to remember is that even if your house is brand new, you will have to renovate or repair it. However, don’t expect any major issues, such as a leaking roof.
- Homeowners are 4 times more likely to use finance applications in 2020 (Hatch).
For previous generations, remaining at home has meant getting more tech-savvy. The increase in the use of financial applications has been fueled by older people using technology more frequently since they are confined to their homes.
Another factor is that with lowered interest rates, more millennials have bought houses and used finance applications to purchase houses.
- Mortgage refinance applications rise 79% in 2020 (CNBC).
- Homeowners have been taking advantage of lowered interest rates on refinance applications, which homeowners have been doing. Refinancing applications are up by 479% from last year as of 2021.
- Mortgage applications in the US have risen by 55.4% in the last year (CNBC).
- Borrowers are looking to refinance their home loans as mortgage rates have dropped. This resulted in an increase in mortgage applications of 192 percent compared to last year’s average.
- There is an approximately 130% increase in month-to-month sales in the industry from March to May (Hatch).
- The remodeling business projects that sales will rise by 130% between March and May 2021.
- 55% of homeowners plan to begin or continue renovation projects this winter (U.S Census Bureau).
- 40% of consumers have a new hobby involving tools or home improvement (Research and Markets).
- Consumers and homeowners in the pandemic were more than twice as likely to work on home improvement projects and DIY projects as those not affected by it. 59% stated they would spend a portion of their money that was otherwise spent on other things on house improvements.
- By 2025, 56% of all remodeling will be done by baby boomers (Harvard University). This would be an increase of about 25% from 2005.
This estimate makes sense because baby boomers would want to upgrade their existing homes for appropriate aging-in-home renovations.
- In New York, Los Angeles, and Chicago, projects will go up to 9-10% in 2021 (Harvard University; LIRA).
In these three cities, remodeling projects are anticipated to rise by 9-10% in 2017. This is partly a result of large rural spreading in big cities, as well as larger disposable incomes because the epidemic’s impact begins to wane.
- Some major U.S cities will have a 30% increase in remodeling spending (Million Acres).
- Major cities like Austin, Texas; Naples, Sarasota, and Fort Meyers, Florida will have a whopping 30% increase in remodeling expenditures in 2021.
- Home Improvement Market Size In The US is 538bn USD (Statista).
- Home Improvement Sales In Canada is 52.5bn CAD (Statista).
- Homeware Market Value In The Uk is 13.6bn GBP (Statista).
- In the United States, garden landscaping was the most frequently undertaken home improvement project in 2020. (Statista).
- In France, for instance, the main focus was on home decoration, whereas putting in a new bathroom was the most popular project in the UK (Statista).
- The U.S. home improvement market size increased by more than 12 percent in 2020, the largest year-over-year increase in the last decade. (Statista).
- Installing features such as high-speed internet and security cameras was done almost as frequently as garden landscaping and indoor painting in the U.S. (Statista).
- Using interconnected devices and appliances to automate the way a home functions, the number of smart homes is forecast to reach nearly 500 million by 2025. (Statista).
- As of 2020, a significant portion of American kitchens is already equipped with wireless controls, touchscreen displays, or built-in apps. Other smart home items include smart speakers, camera doorbells, and voice-controlled devices. (Statista).
Home improvement chains
- With sales exceeding the 130 billion U.S. dollar mark, The Home Depot was the leading home improvement chain in the United States in 2020. (Statista).
- Home Depot is the biggest home improvement store in the United States.
- The firm was formed in Atlanta, Georgia, in 1978. Customers spend an average of 74.32 dollars at a Home Depot shop today. Lowe’s customers, on the other hand, spent around 85.67 dollars each visit.(Statista)
UK Home Improvement Statistics
- 86% of UK tradespeople say they expect to be very busy this year, so demand is set to increase even further. (Ratedpeople).
- 91% of tradespeople expect their costs (for things like their workforce and materials) will increase in 2022. (Ratedpeople).
- When it comes to ideas, social media has long been the go-to location for the newest trends and expert advice – Pinterest is still popular, however it’s all about TikTok and Instagram right now, with 60 percent of homeowners planning on doing at least one of TikTok or Instagram’s top home improvement ideas in 2022.(Ratedpeople).
- In trade occupations, women typically earn 72% of what men do and nearly half believe they aren’t taken seriously because of their gender. (Ratedpeople).
- In the United Kingdom, only 1% of carpenters are women. Just 1.7% of electricians are women in the UK, and less than 4% of construction workers are ladies. (Ratedpeople).
- Only 17% of homeowners believe a tradesman would do a superior job than a female tradesperson, and 29% of women want to use one in their house rather than an electric car charger.
- In just 12 months, demand for roof insulation has increased by 419% in the UK.
- Electric vehicle charging stations experienced an increase in demand of 404%, while heat pump sales increased by a staggering 312 percent.
- According to some homeowners, implementing green living practices in their homes may decrease energy consumption by up to 45 percent in 2022.
- 43% of respondents say they would be more inclined to select a tradesman if they were environmentally responsible in their business and the materials they utilized (versus 31% in 2020!).
- 70% of tradespeople will be increasing their service in 2022 to allow them to complete more environmentally beneficial home renovations, and they’ll also be changing how they operate.
- Almost half (49%) of UK residents made improvements to their homes in 2021, and demand for skilled labor increased by 32%.
Top Reasons Why Homeowners Improved Their Homes In 2021
- 31% To make it nicer, after spending so much time here in lockdown.
- 15% To make it better for working from home.
- 21% To update it with the latest décor trends.
- 13% We didn’t want to move, so we improved.
- 12% Full renovation project to sell/rent afterward.
- 24% To make better use of the space.
- 17% To increase the home’s value.
- 13% Full renovation project to live in afterward.
- 11% To impress guests/family/ visitors.
- 11% To give more space for a growing family.
The Top 15 Jobs Homeowners Spent The Most Money On In 2021 (Based on Average Spend)
|Type of Home Improvement||Price of Works|
|Building an extension||£19,111|
|Building an annex||£17,123|
|Adding an en-suite bathroom||£14,286|
|Creating a home bar||£13,037|
|Creating a home gym||£12,830|
|Building a wall to create separate rooms||£12,419|
|Adding an outdoor entertaining area||£10,805|
|Adapting a room/space to make it multifunctional||£9,587|
- Building an extension £19,111.
- Building an annex £17,123.
- New conservatory/orangery £15,992.
- Adding an en-suite bathroom £14,286.
- Creating a home bar £13,037.
- Creating a home gym £12,830.
- Building a wall to create separate rooms £12,419.
- New porch £11,492.
- New kitchen £11,171.
- Adding an outdoor entertaining area, e.g., lounge area, or patio with a pergola, and fire pit £10,805.
- Adapting a room/space to make it multifunctional £9,587.
- New windows throughout £8,974.
- Tiling £7,972.
- Garden landscaping £6,690.
- Painting £5,278.
The Main Home Improvement Challenges Experienced By Homeowners In 2021
(Based on the percentage of respondents who did home improvement work in 2021 who experienced each of the challenges)
|More expensive than a year ago||49%|
|Difficult to find a tradesperson||45%|
|Had to change their original plans||43%|
|Had to find an alternative tradesperson, since the recommendation wasn’t available||43%|
- 49% of homeowners think the work was more expensive than it would have been a year ago.
- 45% found it difficult to find an available tradesperson.
- 45% experienced delays with work they were having done.
- 43% had to change their original plans because materials and design elements were sold out.
- 43% wanted to work with a recommended tradesperson but they were too busy, so had to find another one on their own.
Homeowners In London And Liverpool Struggled The Most To Find Available Tradespeople
- More than 4 in 10 homeowners found it hard to source available tradespeople in 2021.
- Nearly 4 in 5 tradespeople (77%) experienced increased consumer demand in 2021 and almost two thirds (62%) said it was the busiest year they’ve ever had.
- Covid was a major cause of disruption, but the main reason for cancellations and delays in 2021 was actually materials shortages, with 44% of tradespeople saying they had to delay or cancel work because of supply issues.
The Main Reasons Why Tradespeople Had To Delay Or Cancel Jobs In 2021
- 44% Material shortages.
- 38% Covid – homeowner needing to isolate.
- 34% Covid – needing to isolate, or staff members / subcontractors needing to isolate.
- 26% Rising costs of materials meant the homeowner couldn’t afford the job.
- 16% Too much work on, already booked.
- 15% Staff or subcontractor shortages.
The Trades Most Affected By Materials Shortages In 2021
- Between 75% and 96% of the top 10 most affected trades found it difficult to get the materials they needed.
- 96% Plasterer / Renderer.
- 95% Builder.
- 87% Gardener / Landscape gardener.
- 87% Carpenter / Joiner.
- 85% Painter and decorator.
- 85% Bathroom fitter.
- 81% Handyperson.
- 77% Electrician.
- 77% Plumber.
- 75% Roofer.
Covid Isolation Guidance Worsened Workforce Shortages In 2021
- 29% Needing to isolate because of Covid.
- 22% Lack of skilled / experienced workers.
- 15% Staff subcontractors not wanting to work because of Covid risks.
- 15% Loss of staff members due to Brexit – employees / subcontractors relocating out of the UK.
- 14% Fewer people getting into the trades industry.
- 5% Other.
The Increasing Cost Of Home Improvements
The top trades that increased prices in 2021
- The majority of contractors (89%) believe their costs increased in 2021, which fueled an inflationary increase in the cost of house improvements. Tradespeople raised their prices by an average of 15%.
- Despite this, the cost of labour has remained relatively flat in recent years. Around 4 in 5 contractors (78%) increased their prices by less than 20%, while just 3% increased them by more than 50%. Roofers, plasterers, and carpenters were the three most-expensive trades in 2021.
- Roofer 93%.
- Plasterer / Renderer 93%.
- Carpenter / Joiner 91%.
- Builder 89%.
- Gardener / Landscape gardener 83%.
- Painter and decorator 82%.
- Tiler 82%.
- Plumber 81%.
- Handyperson 81%.
- Bathroom fitter 77%.
86% Of Tradespeople Expect To Be Very Busy In 2022
Overall, contractors anticipate the house renovation boom to continue in 2022, and they are anticipating a number of challenges, including wage increases, staffing shortages, and material supply shortages.
- 91% Expect their costs to increase.
- 82% will need to increase their prices.
- 78% expect to have materials supply issues.
- 44% expect they’ll have to delay or cancel jobs.
- 42% expect to have staff shortages.
Builders And Heating Engineers Are The Most Likely To Increase Prices In 2022
- Almost all builders (97%) anticipate their prices will need to increase in 2022 and around 90% of gas and heating engineers, plasterers and renderers, and carpenter and joiners expect to put their prices up.
- In fact, at least 77 percent of the top 10 trades that are most likely to rise in price intend to provide higher quotations for jobs in 2022.
The trades that are most likely to increase their prices in 2022
- Builder 97%.
- Gas / Heating engineer 91%.
- Plasterer / Renderer 89%.
- Carpenter / Joiner 89%.
- Handyperson 88%.
- Plumber 84%.
- Roofer 82%.
- Gardener / Landscape gardener 81%.
- Painter and decorator 79%.
- Electrician 77%.
Get In There Early If You Need A Bathroom Fitter Or Tiler In 2022
Bathroom fitters and tilers have a lot of confidence that they will be very busy in 2022, just as many tradespeople think they will be. Bathroom fitters and tilers are equally confident the domestic remodeling boom will not be slowing down anytime soon.
The most in-demand trades in 2022
- Bathroom fitter 100%.
- Tiler 100%.
- Roofer 89%.
- Plumber 86%.
- Plasterer / Renderer 85%.
- Electrician 85%.
- Carpenter / Joiner 85%.
- Painter and decorator 85%.
- Builder 84%.
- Gas / Heating engineer 82%.
The Top 20 Most Popular Home Improvement And Décor Trends On Tiktok And Instagram And How Much Value They Could Add To Your Home
Based on the number of hashtag views on TikTok, Instagram posts, and annual search volume in the UK from January to December 2021, they calculated the trend’s popularity ranking. The value increase is determined by the respondents’ values for each trend.
- Herringbone floor £5,485.
- Outdoor kitchen £5,683.
- Living walls £5,263.
- Home oce £6,368.
- Green kitchen £5,344.
- Vintage furniture £5,643.
- Dark kitchens £4,909.
- Neutral décor £5,528.
- Pampas grass décor £4,603.
- Wall panelling £5,114.
- Maximalism £5,394.
- Painted arches £4,723.
- Flagstone floors £5,527.
- Japandi décor £4,936.
- Green walls £4,691.
- Cottagecore décor £5,406.
- Pink bathrooms £4,498.
- Colour blocking £4,776.
- Kitchen pantry £5,757.
- Grand millennial décor £5,398.
The Home Improvements That Now Increase The Value Of Properties The Most
The top five home improvements that will add the most value in 2022 are additional space, major practical upgrades like a new roof and new windows, as well as smaller functional improvements.
The most popular improvement is a self-contained annex, which buyers are valuing the most. Buyers are also becoming increasingly interested in purpose, with home gyms and outdoor entertaining areas bringing £11,000 of added value each.
The fact that separate rooms are more appealing than open layout in 2022 may come as a surprise. – Potential purchasers place greater value on having extra rooms since they provide more flexibility and seclusion, two things that are extremely important if you’re spending more time at home.
- Self-contained annex £17,003.
- New roof £15,407.
- Newly renovated kitchen £13,877.
- New orangery / conservatory £13,611.
- New windows throughout £12,784.
- Separate kitchen / diner and lounge £12,379.
- Large open plan space £12,103.
- Home gym £11,927.
- Newly renovated bathroom £11,906.
- En-suite bathroom £11,817.
- An outdoor entertaining area £11,757.
- Landscaped garden £11,741.
- Home office room, in house £11,706.
- New driveway £11,706.
- Garden office room £11,648.
- An outdoor kitchen £11,549.
- New porch £11,015.
- Downstairs toilet £11,000.
- New wooden flooring £10,896.
- New stone / tiled flooring £10,876.
Value increase based on the value increases respondents assigned to each home improvement
Kingston Upon Thames Is The Most Expensive Place To Build An Extension
The top 10 most expensive places to build an extension (labour costs)
(Based on the average labour costs to build a 25m2 extension)
- Kingston upon Thames £29,975.
- Tunbridge Wells £28,650.
- Bromley £27,930.
- Croydon £27,892.
- Twickenham £27,800.
- Bristol £27,440.
- North West London £27,200.
- Guildford £26,730.
- Canterbury £26,701.
- North London £26,450.
Birmingham Is The Cheapest Place To Build An Extension
The top 10 cheapest places to build an extension (labour costs)
(Based on the average labour costs to build a 25m2 extension)
- Birmingham £17,972.
- York £18,411.
- Bradford £18,870.
- Oldham £18,920.
- Sunderland £19,050.
- Blackburn £19,221.
- Bolton £19,230.
- Derby £19,440.
- Carlisle £19,530.
- Manchester £19,880.
Demand For Electric Car Charging Points Shot Up By 400%
Despite roof insulation seeing the biggest increase in demand – up by 419% from 2020, the popularity of electric car charging points also surged in 2021, up by a massive 404% compared to 2020. Demand for heat pumps also saw a huge rise, increasing by 312%. In our 2020 Trends Report, we saw demand for heat pumps increase by 28% when compared to 2019, so a 312% increase in demand in 2021 shows how more homeowners are keen to embrace the benefits that come from installing heat pumps.
The Eco Jobs Increasing In Popularity The Most In 2021
Based on the percentage change in volume of eco jobs posted to Rated People in 2021 compared to 2020
- Roof insulation 419%.
- Electric car charging point 404%.
- Cavity wall insulation 352%.
- Heat pump (air / ground source) 312%.
- Underfloor insulation 265%.
- Smart meter 49%.
- Living roof 48%.
- Thermal insulation 46%.
- Triple glazing 35%.
- Electric underfloor heating 33%.
The Greenest Trades In 2022
In 2022, 85 percent of bathroom fitters expect to operate more sustainably and make eco modifications in their operations and businesses, which is the greatest proportion of any trade. At least 55% of all other trades in the top 10 are also looking to transform their processes so that they are more environmentally beneficial.
- Bathroom fitter 85%.
- Roofer 75%.
- Gardener / Landscape gardener 68%.
- Builder 68%.
- Electrician 65%.
- Carpenter / Joiner 64%.
- Painter and decorator 62%.
- Plumber 60%.
- Plasterer / Renderer 59%.
- Tiler 55%.
Based on the percentage of respondents who are making changes to be more environmentally friendly in 2022.
Demand For Driveway Pavers Increased By 73% In 2021
In 2021, the most popular driveway paver trade was driveway pavers, which witnessed a surge in demand of over 135%. Back to 2020, demand for driveway pavers has increased by 135 percent.
Stonemasons experienced a 116 percent rise in demand, while roofers had a 107 percent increase. In the 2020 Trends Report, we examined ‘the value of outside space’ and discovered how having exterior places helped many people during the epidemic – so it’s interesting to see that 40% of the top 10 trades with the highest demand increases in 2021 were external, as this suggests that outside space will continue to be important for homeowners in 2022.
How Tradespeople Are Planning To Adapt Their Businesses In 2022 To Respond To Increased Demand
- 45% Are investing in tools / vehicles.
- 36% Are hiring more staff to complete the work.
- 30% are improving website / social channels.
- 27% are investing in marketing / advertising to attract more business.
- 26% are expecting to offer more services.
- 21% are expanding into different locations.
- 14% are forming partnerships to facilitate more jobs.
- 10% are hiring support for admin / business operations
Homeowners Will Spend The Most Money On More Space And Multifunctional Zones
In 2022, homeowners are expected to spend the most of their money on optimizing space and improving the usability of their houses. In fact, space optimization is one of the top 5 upgrades that homeowners want to spend the most money on.
The average expenditure for an extension is expected to be just under £19,000. For a self-contained annex, homeowners are planning to spend around £17,000, with the remainder going toward a new space including conservatory or orangery.
When it comes to how much money they’re allocating, creating a home bar ranks sixth, just under £14,000, and building a home gym is right behind at £13,500. You read that correctly; homeowners are willing to spend more on their bars than their gyms after the last two years.
1 In 13 Homeowners Want To Build A Home Bar In 2022
(The home improvement jobs homeowners want to do the most in 2022)
In 2022, homeowners want to make improvements that will give them more area to entertain and unwind in. The top 15 projects homeowners wish to undertake the most in 2022 include fundamentals like new kitchens and bathrooms, but pandemic-inspired modifications such as multifunctional space creation, home bars, and outdoor entertainment areas are also popular.
- Painting 37.56%.
- New carpet 20.98%.
- Garden landscaping 18.63%.
- New bathroom 14.02%.
- New wooden flooring 12.38%.
- New kitchen 11.46%.
- Tiling 11.36%.
- New windows 11.26%.
- Multifunctional space 10.95%.
- Outdoor entertaining area 9.01%.
- New roof 7.57%.
- Home bar 7.47%.
- Extension 7.16%.
- Loft conversion 6.86%.
- Garden room 6.76%.
Based on the percentage of respondents who are planning to complete different home improvement jobs in 2022.