RECENT HOMEBUYERS DRIVE RENOVATION ACTIVITY: Recent homebuyers are investing more in renovations and taking on larger scope projects than all other home renovators, with an average spend of £42,219 versus £38,783. They are also more than twice as likely to renovate all of their interior spaces than the average renovator (26% vs. 12%, respectively)
2017 ON TRACK TO BE ANOTHER BOOM YEAR: Over half of UK homeowners on Houzz plan to continue or start renovations in 2017 (51%). Homeowners plan to spend an average of £23,100 on home renovations in 2017.
CASH IS KING: 87% of homeowners used cash and savings to fund their projects in 2016, up from 85% in 2015. Cash from home mortgage finance is a distant second (13% in 2016), with recent homebuyers slightly more likely to use credit cards than long term owners (17% versus 10%, respectively).
SMART TECH AND HEALTHY HOMES: More than one third of homeowners consider improving energy efficiency very or extremely important to their project (38%) One in five report the same for addressing health concerns (20%) and 12% for integrating smart technology. To create more energy efficient homes, 23% of homeowners are installing home automation technology during their renovations.
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2017 ON TRACK TO BE ANOTHER BOOM YEAR: Over half of UK homeowners on Houzz plan to continue or start renovations in 2017 (51%). Homeowners plan to spend an average of £23,100 on home renovations in 2017.
CASH IS KING: 87% of homeowners used cash and savings to fund their projects in 2016, up from 85% in 2015. Cash from home mortgage finance is a distant second (13% in 2016), with recent homebuyers slightly more likely to use credit cards than long term owners (17% versus 10%, respectively).
SMART TECH AND HEALTHY HOMES: More than one third of homeowners consider improving energy efficiency very or extremely important to their project (38%) One in five report the same for addressing health concerns (20%) and 12% for integrating smart technology. To create more energy efficient homes, 23% of homeowners are installing home automation technology during their renovations.
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Download the Full Global Report
Download the Full 2016 Report