Is a DIY boom on the way due to the property market freeze?

April 29, 2020

Research by tradesperson comparison site, HaMuch.com, suggests that Britain could be in for a DIY boom should the market freeze brought on due to the Coronavirus persist.

While many turn to DIY to improve a new home, many also look to renovate and improve their existing home to cut out the costs of moving. With transactions predicted to tumble amid the current lockdown, this could result in a boom for the DIY sector.

HaMuch.com looked at the last time the market saw a drastic decline during the 2008 recession and how this compared to data on the DIY sector.

Between 2008 and 2011 before the market recovered, total property transactions fell by an average of -1.1% per year, with a -3.7% drop between the total transactions seen in 2008 and 2011.

During the same time period, turnover from retail sales of decorating and DIY supplies climbed year on year at a rate of 6.9%.

In addition, the turnover of retail sales for hardware, paints and glass in specialised stores also increased by 3.3% each year on average.

However, when the market recovered in 2012, property transactions climbed 5.5% in one year, while DIY retail sales fell a huge -25.9% and retail of hardware, paints and glass also fell -4.3% in a single year.

2008-09 Recession recovery vs DIY
Year
Property Transactions
Change
DIY (Turnover from retail sale of decorating and DIY supplies) £million
Change
Retail sale of hardware, paints and glass in specialised stores – Total turnover £million
Change
Recession
2008
916,920
–
6176
–
8,875
–
2009
847,540
-7.6%
6820
10.4%
9,487
6.9%
2010
883,620
4.3%
7319
7.3%
9,934
4.7%
2011
882,770
-0.1%
7528
2.9%
9,779
-1.6%
Average Annual Change
-1.1%
6.9%
3.3%
Recovery
2012
931,310
5.5%
5580
-25.9%
9,354
-4.3%

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Estate Agent Talk

Leaks, alarms & boiler breakdowns most common issues

The latest insight from Adiuvo, the UK’s leading provider of 24/7, out of hours support for property managers, has revealed that the volume of issues faced by property managers is on the rise, with leaks, alarms, and access problems remaining the most common tenant complaints on an annual basis. However, it’s issues with communal boilers…
Read More →
Breaking News

Monthly mortgage repayments toughest burden since 2008 financial crisis

With softening house price growth and an ongoing debate about property tax reform, exclusive analysis from INTEREST by Moneyfacts reveals the burden mortgage payments are putting on household finances. An average earner able to put down the required deposit and commit to a mortgage in the past couple of years will have found their monthly…
Read More →
Breaking News

Parents sacrifice dream homes for school catchment areas

School catchment property purchases see parents sacrifice dream homes and financial stability The latest research from Yopa has revealed that almost half of parental homebuyers sacrifice their dream home in order to purchase within a catchment area for their child’s education, with many overstretching themselves financially in the process. Yopa surveyed* almost 5,000 UK homebuyers…
Read More →
Estate Agent Talk

Managing Property Sales When Clients Face Family Breakdowns

Family breakdowns often bring significant challenges, and one of the most complex aspects can be the sale of shared property. For estate agents, handling these sales requires a careful balance of professionalism, empathy, and an understanding of legal and emotional factors. When relationships end, disagreements over ownership, valuations, or timelines can create obstacles, and agents…
Read More →
Breaking News

Mind the Deposit Gap: Why Your Mortgage Deposit Could Make or Break Your Budget in 2025

As UK homeowners and buyers face rising costs and tight affordability, specialist lender Hodge Bank warns that the size of your mortgage deposit could now play an even bigger role in long-term financial wellbeing. Hodge is urging homeowners and prospective buyers to review their financial options early, with a particular focus on deposit size and…
Read More →
Breaking News

The number of people living alone has increased by 14%

Loneliness and isolation: The number of people living alone has increased by 14% New insight from COHO, the HMO management platform, reveals that almost a third of households in England are occupied by just one person, with the number of people living on their own increasing by as much as 14% in the past ten…
Read More →