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UK Home Ownership and Spending on The Home

UK Home Ownership and Spending on The Home

In the UK the numbers of people privately renting is growing at the expense of other dwelling types, in particular causing a fall in owner occupied homes. This is changing how consumers set about spending money on the properties they live in, challenging retailers to adapt to this evolving behaviour.

Utilising survey responses from more than 8,000 consumers, alongside analysis of official sources, this report gives an overview of how home ownership is changing and the impact this is having on consumers.


EXECUTIVE SUMMARY
HOME OWNERSHIP V RENTAL RATES
PRIVATE RENTING IS THE GROWTH AREA
OWNING YOUR HOME IS BECOMING LESS COMMON
UNDER 35s PARTICULARLY STRUGGLING TO BUY HOMES
PRIVATE RENTING OUTGROWING OTHER FORMS
BUY TO LET UNDER PRESSURE BUT NO COLLAPSE YET
PROFILING OWNER OCCUPIERS V RENTERS
OWNER OCCUPIERS REMAIN THE MAJORITY
RENTERS TEND TO BE YOUNGER
OWNER OCCUPIERS MOSTLY LIVE WITH FAMILIES
BIG DISPARITY IN POPULARITY OF JOHN LEWIS
HOMEOWNERS HAVE MORE SPENDING MONEY PT.1
HOMEOWNERS HAVE MORE SPENDING MONEY PT.2
HOMEOWNERS DO MORE GARDENING & DIY
RENTERS MORE MOTIVATED BY ENJOYMENT OF DIY
RENTERS
RENTERS STILL ABLE AND WILLING TO DO DIY ON HOMES
MOST RENTERS BUY THEIR OWN FURNITURE & FURNISHINGS
RENTERS STAY FOR CIRCA 5 YEARS ON AVERAGE
ONLY 28.5% OF RENTERS BELIEVE THEY WILL EVER BUY
MANY WITH PLANS TO BUY ARE BANKING ON PRICES TO FALL
MOST WITH PLANS TO BUY AREN’T CHANGING BEHAVIOUR
HOMEOWNERS
HOMEOWNERS EXPECT SPEND ON HOMES TO ADD VALUE
KITCHENS ARE THE PRIORITY FOR HOMEOWNERS
MOST HOMEOWNERS HAVE RESIDED FOR 10+ YEARS
LESS THAN HALF OF HOMEOWNERS PLAN TO MOVE
NEW HOMEOWNERS SPEND BIG ON MAJOR WORK
SPEND ON DIY BOOSTED BY BIG SPENDING MINORITY
LANDLORDS
MOST LANDLORDS RE-DECORATE REGULARLY
LANDLORDS RESPONSIBLE FOR DIY AND DECORATING
43.2% OF RENTAL HOMES NEED GARDENS MAINTAINED
MOST LANDLORDS WILLING TO SPEND ON PROPERTIES
LANDLORDS PRIORITISE DIY OVER FURNISHINGS
LANDLORDS RESTICT SPEND AFTER INITIAL INVESTMENT
METHODOLOGY

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