Home Renovation Activity and Spend Hits Four-Year High, Houzz Survey Finds
Published: 20 June 2022 – James Mead
Home renovation activity and spend have reached the highest rates reported since 2018, according to the annual Houzz & Home survey of more than 3,200 UK respondents from leading home renovation and design platform Houzz. More than half of homeowners renovated their homes in 2021 (53 percent), up from 49 percent in 2020. Homeowners recorded a 20 percent jump in median renovation spend at £18,000 from £15,000 in 2020. This growth can be attributed to homeowners with higher budget projects (the top 10 percent of spend) increasing their investment from £100,000 in 2020 to £128,000 in 2021.
Home renovation activity continues into 2022, with nearly half of the surveyed homeowners planning to renovate (49 percent) and more than half planning to decorate (55 percent) this year. Homeowners’ planned