In 2024, a significant trend is emerging among UK homeowners, varying between the renovation of their existing homes and the allure of buying new properties, particularly ‘fixer-uppers’. This trend, especially prevalent in London, offers a fascinating insight into the evolving landscape of the residential property market.
The ‘Renovation Boom’ in the United Kingdom
London, a city known for its dynamic property market, is witnessing a surge in home renovations. 2023 marked a substantial year for renovation in the capital as the city accounted for 14% of all granted planning applications nationwide. This year looks like a promising continuation as homeowners are increasingly choosing to upgrade their current homes rather than relocate.
This trend is driven by a desire for personalised living spaces and the high costs associated with moving. Popular renovation projects in London include modernising kitchens and bathrooms, adding extensions, and converting lofts, all…
