Brits spend £83bn on home improvements every year

Adults in the UK spend £83bn on home improvements each year, research from digital bank Zopa has revealed.

According to the bank, each individual homeowner spent £3,048 on “sprucing up” their home with furnishings, flowers and renovations.

Zopa calculated that spending over £3,000 on home improvements is more than double what Brits spend yearly on gas and electricity bills (£1,170) and more than they spend on going out for dinner (£1,602), highlighting how valuable homes are to their owners.

Furthermore, the money is not only spent on DIY. The research suggested that, of the overall amount spent on upgrading their homes, the average Brit spent £2,116 per year on furniture and furnishings and carpet.

When it comes to time, Zopa found that adults across the UK spent approximately 108 hours (4.5 days) on improving their home.

Commenting, Zopa chief customer officer Clare Gambardella said: “Everyone has a personal relationship with money. As this research shows, lots of Brits choose to spend their money on upgrading their house so that they can be proud of the place they call home, whether that be through a lick of paint or a spring clean. Our aim is to help people feel good about their money, whether that’s through spending on their home or elsewhere”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.

Intergenerational lending
MoneyAge News Editor, Michael Griffiths, hosts Family Building Society BDMs, Amar Mashru and Arif Kara, to discuss intergenerational lending and explore ways that buyers can use family income to help increase their borrowing capacity when applying for a mortgage

Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.