The home improvement sector is booming as the British population embraces being at home and spending time with loved ones after so long apart during the last two years. Construction and home improvement companies have reported booming business and full pipelines of projects, with industry analysts reporting predictions of continued growth in these sectors through the rest of 2021 and onward into 2022.
Home buying is thriving as people look to move out of cities and into smaller towns and more rural areas with more green space, but where moves aren’t being made, interior design, home improvements and renovations are becoming more frequent. The Rated People’s Home Improvement Trend Report found that almost 50% of all British homeowners made the decision to start on renovation works or actually began a project to do so during 2020; taking advantage of time off work and at home to put their long-held ideas into action.
Across the UK, some areas have seen a particularly large increase in home improvement spending – with some locations seeing over 15% growth in the industry. Yet there are still millions of homeowners across the country looking to renovate their properties – so the industry has by no means hit its peak yet. In judging where the most growth may be seen in years to come, we can look at where has seen the highest level of spend so far.
The second largest city in the UK, Birmingham has 3.6 million residents in its metropolitan area – and they have proven to have used repeated lockdowns and coronavirus restrictions resulting in downtime well, with over half of homeowners there embarking on a home improvement project!
Glasgow is the most populated city in Scotland and the Glaswegians too have spent a great deal of their time recently working on their homes. Whilst this is in part due to the extended period of restrictions enforced by the Scottish government compared to the rest of the UK, the city of Glasgow has taken it in its stride and taken advantage of the state’s unique sustainability initiatives promoting greener homes.
The capital of Northern Ireland, Belfast is too often forgotten by the British media yet holds its own in terms of property development. There is, however, often a shortage of labourers and home improvement companies available in Belfast and so it does tend to see a higher level of DIY projects than elsewhere in the UK.
Beautiful Brighton is an idyllic destination for many to live and so has attracted a number of new homeowners beginning renovation projects in their new properties as well as those already in the area installing home improvements.
Norwich and its surrounding rural areas in Norfolk is seeing vast population growth due to its picturesque locale, ample amenities and low cost of living. The city centre plays home to primarily Victorian terraces while ambitious property projects can be found in the countryside and along the Broads national park.
The city of Sheffield has benefitted from vast development through the last twenty years and its GVA (Gross Value Added) has increased by over 60% since the late 1990s. As a result, those living in the city and surrounding areas are keen to stay and so are refurbishing their homes rather than selling up and moving on.
Greater London covers a vast area, and for much of the population living there, 2020 was their first extended period spent at home without the constant travelling and commuting that forms so much of the city’s day-to-day. This afforded many the opportunity to properly invest and focus on their living spaces, refurbishing them throughout the year. A number of new property projects are in the pipeline for 2022 so we can also expect to see ongoing growth here through the next year.
As the fifth most visited city in the UK, lots of Brits know Liverpool well – and the increased focus on quality of life and loving where you live has only amplified the appeal of living by the Mersey. Almost half of all homeowners in Liverpool made home improvements in 2020 and anecdotally, local firms are reporting increased levels of demand through all renovation sectors.
Bristol’s modern economy is truly booming – the city even has the largest traded currency in the UK, the Bristol pound! Bristolians favour investing in and spending their money with local businesses and businesspeople, and so home improvement companies in the area are blossoming with local homeowners looking to renovate and refurbish.
Famed for its lively local life and fast establishing itself as a media and cultural centre in the north east, Newcastle is becoming an increasingly popular place to live amongst young professionals and millennials. As these demographics move into the city and look to improve the properties they’re purchasing, those already settled in and around Newcastle too are redeveloping their homes. Newcastle also has a lot of property projects in the pipeline so more residential developments will be coming on to the market at the end of 2022-2023.
The British population have pulled through the coronavirus pandemic in a way only the most resilient can do, and yet even in facing lorry driver shortages, a fuel crisis and rising energy prices have learnt a very important lesson along the way: time at home can be brilliant, and time with loved ones is always time well spent. If we need to spend a little time and effort on our homes to accommodate that, then so be it – the home renovation industry is clearly booming and long may that last!
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