Homeowners in South East accelerate home improvement plans as Brexit fails to damped confidence

More than half (56 per cent) of homeowners in the South East of England are planning to carry out home improvements with an average spend of £5,455.65 over the next six months – contradicting recent reports of weakened consumer confidence – according to new research by leading roof window manufacturer VELUX.

The VELUX 2017 Home Improvement survey, released to coincide with Home Improvement Month in April, revealed that 15 per cent of home owners in the South East carry out improvements once every two to five months with a further 20 per cent doing it once every six to 11 months.

Contrary to many recent reports suggesting a weakening of consumer confidence in the shadow of Brexit, home improvers in the South East are willing to invest to create their dream home. Almost two fifths of home improvers in the area (37 per cent) are planning to spend up to £5,000 with 11 per cent expecting to spend up to £10,000 on their proposed projects.

According to the findings, the rationale for home improvement is more emotional than rational. Over a third of home owners (36 per cent) who are planning to improve their property over the next six months are doing so because they love their home and the area they live in and don’t want to move. By comparison, 30 per cent are improving their home to add value to the property.

This ‘home sweet home’ philosophy is also front of mind for almost one fifth of home improvers (19 per cent), whose main reason for home improvement is one of self-satisfaction, simply to make them feel good about themselves.

The main focus of home improvement plans is cosmetic, with 71 per cent planning to paint and decorate. However, a third (31 per cent) are investing in a new kitchen or bathroom, followed by flooring and lighting (29 per cent) and replacement windows (9 per cent).

Adding more space through a conservatory was cited by five per cent of homeowners from the South East compared to just 1% of home improvers in Wales and Scotland.

Grant Sneddon, product manager from VELUX said: “Despite widespread reports of weakened consumer and business confidence, our comprehensive research underlines a clear intention from homeowners to continue investing in their homes.

“What’s perhaps more interesting is that homeowners are spending out of a personal preference of creating their dream homes, just as much as those who are spending to invest in the future value of their property.

“Whether it’s by creating an extra room, converting a loft, building an extension or replacing a kitchen or bathroom, it appears that home owners up and down the county are realising the potential of their homes and choosing to improve or to add to the space they have, instead of moving to a different property.”

UK based interior design blogger and stylist Hege Morris, of Hege in France, said: “The internet has helped to inspire millions of people to realise the potential of their house and have the courage to create their own dream homes.

“Many homeowners now look beyond the functional use of their home to create spaces which mean more to them. For some, this means creating a personal sanctuary where they can escape from the rigours of everyday life, manage a home-run business or pursue a hobby.

“For others, particularly those with families, we’re seeing the continued growth of large, light and bright, open living spaces, where they can spend more quality time together.”