As a result, industry sectors including doors and windows; drainage; roofing and cladding; security; lighting; plumbing and heating; kitchens, bedrooms and bathrooms; planning permission; renewable technologies; energy efficiency, and home insurance can expect to reap the benefits of this buoyant and burgeoning market.
According to a recent survey of around 2,400 homeowners, carried out by the market-leading Homebuilding & Renovating Shows, 86% said they are continuing with their project.
78% of respondents said that there would be no change in their level of project spend. Additionally, there was no indication that homeowners had changed their minds on product choice or scale of project.
The majority of survey respondents from the recent London Homebuilding & Renovating Show at ExCeL stated that they remained determined to continue with their projects including self-build/custom build, first time conversions, single and two-storey extensions, remodelling rooms and layouts, and creating new kitchens. This means the shows continue to remain relevant to these committed, serious visitors who conduct research, seek advice and generate resources at the events, providing a valuable data source for exhibitors in the light of GDPR.
Jason Orme, property expert for The Homebuilding & Renovating Show, said: “Self-builders and home renovators are stoic by their nature, spending £10,000s and even £100,000s creating their dream homes, often for the first time.
The economic and socio-political outlook is impossible to control or predict, but life for those looking to take control of their living spaces carries on regardless. We will always need to build and renovate our homes, as existing stock deteriorates and our needs change. People are not going to pass on that once-in-a-lifetime dream building plot because of a political issue the outcome of which they cannot predict.
They have jobs, and they earn money, and house prices remain stable in almost all areas – that’s what affects building activity for individual homeowners looking to commit to a life-changing project. The Homebuilding & Renovating Shows remain the events where these serious, committed and engaged consumers research and engage with those trades that can help them achieve their goals.”
When it comes to confidence in house prices, almost three quarters of respondents expect values to stay the same or increase, with one in 20 of the respondents claiming that Brexit has inspired them to spend more on their upcoming project.
Nick Noble, head of events for Future Home Interest, says: “We certainly wouldn’t have been surprised if our audience were following the rest of the economy in exercising caution when committing to major spending decisions.
However, this survey goes to show what we had always suspected – that this group of people, already going out of the mainstream to create these amazing homes and extension projects, are incredibly determined and serious about making a start on the new life their home will give them. As a result, trade exhibitors at our shows can be confident that they are being exposed to committed consumers, who attend our events with very specific objectives in mind.”
