Image: Pintau Studio/Shutterstock
The online survey of the intensions of 970 UK consumers, taken in March 2023, found that the top list of jobs mentioned by homeowners planning home improvements this year is as follows:
However, although overall two-thirds of households are planning some sort of work to their property, Eureka! forecasts a very ‘bumpy’ road ahead – demand for all trades is only consistently high among the highest earning households.
Eureka! also suggests that in the context of the home improvement sector, there could be a real squeeze on brands who position themselves in the ‘middle ground’ in their category.
Growth is more likely to come from those buying at the premium end of the market, or those looking for good value for money at the other end of the spectrum.
Around eight in 10 higher earners intend to bring in a professional trade at some point during this year; suggesting a very strong year ahead for those positioning themselves at that end of the category.
Dave Ruston, Director at Eureka! Research, commented: “Installers can take some comfort from our recent data but we can assume that some of this work is likely to be routine maintenance or repairs.
“The general economic forecasts all seem to indicate that a challenging year still awaits which will inevitably dampen demand for bigger ticket items such as bathrooms and kitchens.”
How many households are planning work to their property in 2023?
If you'd like to keep up-to-date with the latest developments in the heating and plumbing industry, why not subscribe to our weekly newsletters? Just click the button below and you can ensure all the latest industry news and new product information lands in your inbox every week.
Subscribe to receive your free copy of HVP every month.
