According to a new survey of 1,139 UK homeowners carried out by DiscountFlooringDepot.co.uk, 31% of Britons are working hard to finish home refurbishments prior to March 29th 2019, to avoid facing the potential price hikes which may be applied to imported goods as a result of Brexit.
A worrying 67% of concerned Brits state that the continuously rising costs of such products, thanks to the devaluation of the pound, is putting them under financial strain. 1 in 3 admit to having to borrow extra money from banks, friends or family in order to finalise their projects ahead of the potential price increases coming into place.
21% have even had to sacrifice other luxuries, such as holidays and clothing in order to be able to make as many renovation purchases as possible ahead of March 29th.
Of those who are rushing to make purchases, it is large household furnishings, such as beds, sofas and dining sets (72%), bathroom fixtures and fittings (63%) and electrical items (51%), which are the products that are the most desired.
17% of Britons admit to feeling as though they are trying to beat the clock when it comes to snapping up the best pre-Brexit prices.
The research revealed the top five pre-Brexit purchases Britons are rushing to make:
1. Large household furnishings (e.g. beds, sofas and dining sets) - 72%
2. Bathroom fixtures and fittings (e.g. towel rails, showers and baths) - 63%
3. Electrical items (e.g. appliances, lighting and automatic gates) - 51%
4. Real wood and tiled flooring - 44%
5. Landscaping materials (e.g. soil, rocks, timber) – 38%
Paula Gray, designer at DiscountFlooringDepot.co.uk said: “It’s clear to see that it isn’t only retailers who are feeling the pre-Brexit panic. A significant number of Britons admitting to rushing through their home renovations ahead of Brexit and any potential tariffs that may be enforced on building materials and home accessories on March 29th next year.
With the price of such products rising continuously, it makes sense for shoppers to think savvier and stock up on their building materials and supplies and those bigger home accessories, to ensure they aren’t losing out later down the line. The quicker Brits can purchase these products, the better and whilst making cut back on other luxuries, like holidays and treats isn’t ideal, it is certainly worthwhile and will likely save Brits in the long run.”
