The Market Shows No Sign Of Slowing
Prospective franchise owners always look for indicators of future market growth, before deciding to invest. So recent figures from various home improvement and housing surveys should provide reassurance that Granite Transformations franchisees have every prospect of growth.
The following figures suggest, the home improvement market shows no signs of slowing down and the number of dwellings suitable for Granite Transformations kitchen and bathroom makeovers spirals upwards, as the housing stock continues to age.
- The average spend on home improvements has increased 21% to £11,707.
- The driving force for home improvement is to create a better quality of life.
- UK consumers spend around £27 billion every year on home improvements.
- Home improvement ranks ahead of holidays (75% v 59%) amongst consumers.
- The main reason for home improvement is to have a nicer place to live (52%).
- Two-thirds of consumers plan to spend at least as much on their homes next year.
- The top home improvement activity planned is internal painting and decorating.
- It’s followed by upgrading a kitchen or bathroom, the most popular non-DIY options.
- The desire to be eco-friendly is increasingly important for consumers (32%).
- A further 48% declared environmental considerations to be ‘fairly important’.
- Only a minority of consumers felt comfortable with installing a new kitchen(19%).
- They’re also unsure about upgrading a bathroom (15%), without using tradesmen.
- Those living in towns are less confident about DIY than those in rural areas.
- People are staying in their present homes much longer, averaging 29 years.
- The average first home buyer will wait until they are 42 years old before moving.
- Of the 25 million homes in the UK, seven out of 10 are now owner-occupied.
- The number of UK home owners has risen by more than a million since 1997.
- The majority of UK dwellings (81%) are two-storey houses and bungalows.
- Flats and apartments make up just 19% of current UK housing stock.
- The UK has one of Europe’s oldest housing stocks, with 21% built before 1917.
- 16% of dwellings were built between 1913 and 1945 and in need of regular repair.
- Dwellings built after 1990 account for just 12% of the present housing stock.