- Almost seven million UK homeowners plan to renovate their homes in the next two years
- Average expected spend is £14,000 each over the next two years
- More than one in 10 UK adults are living with parents, including 9% of those aged 45-54
- West Midlands homeowners most likely to install a home office
- A quarter of renovating Londoners plan to extend their property
- Three-fifths of Scottish renovators plan to improve the aesthetics of their property
Almost seven million UK homeowners plan to renovate their homes this year and intend to spend more than £14,000 each on average over the next two years, according to Aviva’s latest How We Live report.[1]
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 Millennial (aged 28-43) homeowners planning to carry out work.
The report reveals that more than one in 10 UK adults live with their parents, and that multigenerational living is one of the factors driving an increase in UK home extensions.
Renovation plans reflect modern working…
