ONE IN 10 HOMEOWNERS FEEL THE PRIORITY IS TO CHANGE THE DOORS AND WINDOWS ON THEIR HOME
August 12, 2021
VEKA plc regularly invests in homeowner research to give fabricators and installers an insight into future demand. Our July study, carried out by OnePoll, asked 2000 UK homeowners about their future spending habits for 2021 and beyond.
The survey found seven in 10 see this as the year to sort out their living space once and for all, but while 41 per cent of those who want work done are well underway with their home renovations, 17 per cent haven’t started yet.
A quarter want to completely overhaul their gardens including the addition of new fencing and decking, with one in 20 planning on adding a summer house or outdoor office. But one in 10 feel the priority is to change the doors and windows on their home.
The study also found homeowners estimate there are an average of 10 areas of their homes they need to get round to updating sooner or later, but believe they’ll only get to a quarter of them this year, leaving the remainder for 2022 and beyond.
It also emerged 43 per cent intend that the money they’ll save by not going abroad on holiday will be plunged straight back into a home renovation project. As a result, three quarters have been able to get more done than they thought they would – even if their homes are still a long way off ‘finished’.
All the work that British homeowners have put in so far, though, is believed to have added on a huge £12,645 to the value of the home – at least, according to the people who own them. However, the average amount adults have spent on their homes since buying them is higher than that – working out at £14,511 per household, according to the survey.
Dawn Stockell, Marketing Director at VEKA plc said:
“Although we don’t have a crystal ball, we can look for key insights to help us plan for the future. This research gives us an indication that despite the easing of restrictions, homeowners are choosing a ‘staycation’ this summer and will be investing the money saved back into their homes. The research also shows that they will continue with their plans well in 2022, which would indicate the market shows no immediate signs of slowing. VEKA is committed to investing in marketing that’s valuable to fabricators and installers who are trying to navigate an unpredictable surge in demand.”