Despite economic challenges, the report reveals that renovation activity remains strong, driven by ageing housing stock and a desire for long-term living improvements.
With a 26% increase in median renovation spending compared to 2023, UK homeowners are showing no signs of slowing down.
Renovation on the rise amid ageing homes
Heating upgrades like installing underfloor heating were one of the biggest focuses for UK homeowners(Image credit: Nu-Heat)
Renovation activity increased to 51% in 2024, up from 48% the year before. The median spend reached £21,440, a notable 26% rise year-on-year, while the top 10% of spenders invested up to £169,000.
A significant driver behind this trend is the UK’s ageing housing stock: over half of renovating homeowners lived in properties built before 1940. As a result, many focused on essential upgrades to heating (43%), plumbing (42%) and electrics (39%).
Pent-up demand continues to fuel this activity, according to the study. Over one-third of homeowners said they finally had the finances (36%) or time (33%) to pursue long-postponed projects.
Additionally, 61% of renovators plan to stay in their homes for more than 11 years, indicating a long-term mindset.
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Spending trends and financing shifts
While renovation costs are rising, most homeowners continue to rely on savings (83%) as their primary funding source.
Notably, the use of credit cards dropped by 5 percentage points to 13%, reflecting caution around borrowing amid interest rate concerns. Gifts or inheritance as a funding source also rose slightly from 9% to 12%.
Professional services remain a critical part of renovation projects, with 94% of homeowners hiring pros.
Electricians (59%) and plumbers (56%) topped the list, followed by rising demand for cabinetry specialists (27%, up 8 percentage points), painters, roofers and architects – each seeing a 5-point increase in hiring.
Future plans and outdoor enhancements
Newgarden designing is on the list of improvements half of UK homeowners want to make in 2025(Image credit: Markilux)
Looking ahead, the appetite for home improvement is steady. In 2025, 60% of homeowners plan to decorate, and 49% intend to renovate – closely mirroring last year’s intentions.
Outdoor spaces continue to gain popularity, with half of homeowners tackling garden or exterior projects. Improvements included garden beds and borders (29%), lighting (23%) and security systems (16%), alongside more structural additions like sheds (17%), pergolas (11%) and decking (9%).
Entrances also received attention, with more homeowners decorating (32%), renovating (24%), or expanding (7%) their entryways compared to 2023 figures.
With more than half of homeowners renovating and many planning more improvements in 2025, it’s clear that Britons remain deeply invested in making their homes better, brighter places to live.
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