We know that many people have been getting on with DIY tasks during lockdown, but now that restrictions are being eased, that doesn’t mean Brits are going to lose their love of home improvements.
In fact, one organisation is predicting that the opposite will be the case. Property Reporter recently shared a prediction from tradesperson comparison site HaMuch.com, which is anticipating a DIY boom in the coming months.
It compared data from previous periods of economic recession and housing market slowdowns to see how people might react if we hit another slump, which is anticipated following the disruption caused by the Covid-19 pandemic.
For example, between 2008 and 2011, total property transactions dropped by an average of 1.1 per cent a year, whereas DIY sales climbed by an average of 6.9 per cent year-on-year during the same period.
HaMuch.com believes this could happen again as the UK’s housing market takes a hit as a result of the pandemic and more people decide they want to improve rather than move.
Tarquin Purdie, founder and CEO of the site, commented: “With many now worried about the future of the property market and the value of their home, as they were during the previous recession, it’s very likely we will see a large uplift in the number of people opting to stay put and improve their current property instead of moving to a new one.”
For some, this could be an opportunity to address the elements of their property that they dislike. A survey by Resi.co.uk and the HomeOwners Alliance recently found that one of the biggest regrets many people have about the property they bought or rented was the lack of storage space.
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