UK Homeowners Set to Invest in Home Improvements
United Kingdom: According to Aviva's latest How We Live report, almost seven million UK homeowners plan to renovate their homes in the next two years, with an average expected spend of £14,000 ($17364) each. Renovation plans are particularly popular among younger age groups, with close to three-quarters (73%) of Generation Z (aged 27 and under) and two-thirds (65%) of Millennials (aged 28-43) homeowners planning to carry out work. The report also reveals that more than one in 10 UK adults are living with parents, including 9% of those aged 45-54. Regional differences in renovation priorities were noted, such as West Midlands homeowners being most likely to install a home office, a quarter of renovating Londoners planning to extend their property, and three-fifths of Scottish renovators aiming to improve the aesthetics of their property.
Source: Aviva