The 2024 Houzz & Home Study reveals that renovation spending has surged in the last three years, as median spending* increased 13% from £15,000 in 2020 to £17,000 in 2023. Bathrooms continue to be the most commonly renovated interior room.
Gen Xers** spent the most on renovation projects for the second consecutive year, with their median spend at £22,000, compared with Millennials and Baby Boomers at £15,000 and £16,000, respectively. The top 10% of spenders in these groups allocated substantial budgets, with Gen Xers at £200,000 and Baby Boomers at £180,000. While Gen X leads in spending, Baby Boomers continue to drive renovation activity (54%), followed by Xers (34%) and Millennials (12%).
When it comes to interior room renovations, bathrooms continue to reign supreme, accounting for 29% of all projects. This is closely followed by kitchens and living rooms, each at 26%. The popularity of bathroom renovations is further underscored by the significant jump in median spend for bath and kitchen projects last year, with increases of 39% and 16%, respectively. This trend aligns with the evolving preferences of homeowners, with median spending reaching £7,300 for bathrooms and £15,100 for kitchens in 2023.
In 2023, nearly all renovating homeowners (93%) enlisted the help of a home professional, with speciality service providers such as electricians (59%) and plumbers (52%) hired most frequently.
The average planning length for a bathroom renovation in 2023 lasts 8.6 months, while the construction takes, on average, 3 months.
The 160-question survey gathered information from Houzz users who identified themselves as 18 years old or older and homeowners. The final sample consists of 1,848 respondents in the UK.
The full 2024 Houzz & Home Study is availablehere.
* Median spend is the midpoint level, meaning half of renovating homeowners on Houzz spent more and half spent less.
** Generational categories follow Pew Research Center’s age ranges: Millennials (25–39), Gen Xers (40–54) and Baby Boomers (55-74).