Key findings of the Halifax research are:
Younger people become more active - Younger people are getting more involved in home improvements. Last year the most active age group for carrying out home improvements was the 35 to 44 year olds (58%.) whereas this year the most active groups are 18-24 and 25-34 year olds (each 68%).
More people looking to add value and improve saleability- There has been an increase in the number of people carrying out home improvements to increase the value of their property, a quarter of people cited this reason compared with just 7% last year. Likewise, more people are seeking to increase saleability of their property through home improvements, 16% compared with just 2% last year.
DIYers hope to add £5,000 - Over a quarter of home improvers estimate that the work they have completed in the past twelve months will add over £5,000 to the value of their property.
Redecorating remains the nation's most popular home improvement - Redecorating is still the nation's most popular home improvement, with two thirds (66%) choosing to revamp their homes with a new coat of paint and wallpaper.
Focus on the outdoors – Garden improvements remain popular, moving up the popularity ranks to second place. 41% of people chose to improve their garden in the past twelve months. Perhaps surprisingly, over 45% of respondents from the 18-24 year old age group had undertaken some garden improvements in the last year.
The kitchen is the room people would most like to change – The room people would most like to change is the kitchen. This is regularly highlighted as an area people would like to improve, but rarely appears in the top three most commonly conducted improvements. It may be that restricting factors such as finances or limited ability are preventing people from undertaking this task.
East Midlands most active area - Residents of the East Midlands were the most active with 67% undertaking home improvements over the past 12 months, followed by Wales (64%), Yorkshire and Humber (62%) and the North West (61%).
Why people are carrying out home improvements:
58% of respondents have carried out some type of home improvements within the last 12 months, an increase of 12% on last year. The majority of people undertaking home improvements did so to update or modernise their home (54%) or to improve the look and design of their home (50%). Over a third (34%) say that they did it to improve their standard of living, while over a quarter of respondents (26%) were forced to improve their home to undertake essential repair.
There has been an increase in the number of people carrying out home improvements to increase the value of their property, a quarter of people cited this reason compared with just 7% last year.
Likewise, more people are seeking to increase saleability of their property through home improvements, 16% compared with just 2% last year.
There are signs of an increased awareness of the impact of home improvements in terms of energy efficiency. Almost a fifth (17%) stated reducing fuel bills as a reason for doing their home improvements, up from just 4% last year.
The cost of home improvements:
Over half of respondents (62%) named cost as the thing most likely to prevent or deter them from undertaking home improvements.
Of the 58% of respondents who carried out improvements to their home within the last 12 months, half (51%) spent up to £2,500, over a third (33%) spent between £2,500-10,000 and 11% spent over £10,000.
Home improvements to be carried out over the next 12 months:
Almost two thirds (59%) of respondents are planning to make home improvements over the next year. Over half (55%) plan to spend up to £5,000, whereas over a quarter (27%) plan to spend between £5,001 and £40,000. The most active age groups will be the 35-44 year olds (74%) and the 25-34 age group (71%) which are planning improvements within the next year.
The trend of refreshing a property's image is set to continue over the next 12 months with redecorating remaining the most popular choice (64%) followed by garden improvements (35%).
Features of a house considered to be essential:
The 'warmth factor' continues to be considered essential with over 90% considering central heating and 84% considering double glazing essential, both up on last year's results. Those whose ideal home is terraced placed less emphasis on central heating, with just three quarters (74%) considering it essential. This may be due to the heat generated by the surrounding properties.
Over four fifths of respondents, (81%) considered a garden to be essential. Gardens were more highly regarded by women than men, 87% compared with 74% of men. Over half (58%) responded that a fully enclosed garden was essential whilst over a fifth of people (23%) also considered garden improvements such as decking or patios to be essential. The findings indicate that people are beginning to see their garden as an extension to the home and taking their home comforts into this area.
A modern bathroom and kitchen continued to be seen as essential features, each being cited by more respondents this year than the last. Off street parking was also cited by more respondents this year with over six out of ten people (61%) considering it to be essential.
Phil Jenks, head of mortgages at Halifax, said: "Home improvements are becoming more popular with people looking to add value to their home and improve saleability. Whilst DIYers continue to favour the more simple home improvements, such as redecorating, there are also signs that people are beginning to view their gardens as an extension of their home and are investing more time and money in improving the outdoors as well as the indoors.
"It's good to see more people citing reasons such as reducing fuel bills and increasing energy efficiency for undertaking home improvements as it shows that climate change is moving up people's agenda."
