Homeowners staying put

Recent consumer research backed by Plumbfix, part of the Screwfix group of companies found that over 48% of UK homeowners plan to stay in their current homes.

[Source: Heating and Plumbing Monthly March 2013]

Householders will look to improve and invest in their current home rather than consider a home move and the related expenditure that entails.

Given the current economic climate this bears will for tradespeople who are likely to fulfil the work.

Which means that installers could well be busy during the coming year.

56% rate home improvement as more popular than going green or refurbishing newly bought homes.

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Homeowners are staying put and hiring professional tradespeople to do their heating, plumbing and house projects.

Homeowners may well have a number of DIY projects but are more likely to rely on a trained tradesperson to carry out the work. Eight out of ten would not feel confident starting a plumbing project and 42% admitted they would prefer to hire the services of a professional tradesperson to do the odd jobs around the house.

Many tradespeople are struggling to find new business due to the economic climate and if the stats can be believed then this would suggest that there is a strong consumer demand for home improvement projects that will require the services of tradespeople to carry out the work.

There is a big BUT in all this if homeowners are reluctant to move because of the uncertainty in the economic climate then it is highly unlikely homeowners will carry out major refurbishments of their own homes. Surely they’ll make do rather than spend money in an economic climate that promises very little at the present time.

What do you think? Drop us a comment in the box below.

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