In 2020, the UK property market enjoyed a boom as homebuyers across the nation took advantage of the stamp duty holiday bought into effect by the UK government in the wake of the economy sliding into a downturn. Now the market looks set to turn, property owners are looking to renovations to improve their homes.
Most property buyers in the last year were looking for private family homes. Either leaving their urban lives behind for some more space or simply needing a change. However, buying properties as an investment is still huge business.
Whether it is buy-to-let properties to supplement an income and as an investment for the future or buying derelict properties to renovate them and sell at a profit. Property investing continues to draw buyers in and enabled nearly 17,000 businesses in real estate to open in the UK last year alone.
Renovations have become business too. With most people spending the majority of their time at home in the last 12 months, trades people and home-improvement equipment were in hot demand, but which trades and tools topped the lists.
What trades people were needed in the last year?
In the last year, nearly all trades related to home improvement were in high demand. Topping the list were electricians, who were in 58% more demand than they were in 2016. Next up, plumbers saw a 51% increase in pro-tradesmen hiring, followed closely by carpet and flooring specialists.
Least in demand, but still rising year-on-year were builders and curtain and blind installers, with 30% and 25% increases in demand for each.
In light of last year’s restrictions, many tradesmen had to ensure they had a higher than usual level of personal protective equipment to complete jobs, helping to boost sales of hard hats, masks, overalls and gloves to complete home renovations.
What are the most important home improvements last year?
Chief among the home renovation trends of 2020 was the need for more space. Whether it was to accommodate home offices or creating outdoor spaces to escape to, if we weren’t buying bigger house, we were looking for ways to maximise space at home.
Other big key trends in home renovation came in the form of sustainability, smart home-tech improvements and creating beautiful gardens. Showcasing our needs for subtle, yet essential improvements to aid our well-being at home.
On the home decoration front, homeowners went crazy for white walls and wide-wooden plank floors in 2020. This ties closely to the need to create more space, as it works as a clever visual trick in creating space. Plants, fixed shelves, framed pictures and getting the ideal desk all hit the home renovation top 10 as well.
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