Quarter of home owners have put home improvements on hold because of Brexit

Over a quarter of home owners have put home improvements on hold because of market uncertainty after the Brexit vote:

New research conducted by a UK based kitchen worktop specialist has found that over a quarter of home owners have put home improvements on hold this summer due to the market uncertainty after the EU referendum to vote out.

With political parties in turmoil, uncertainty in the currency markets and a general uncertainty of what will happen now that the UK has voted to leave the European Union, it seems that many are holding back on big expenditures until the situation has stabilised.

The study, commissioned by kitchen worktop specialist’s www.mayfairworktops.co.uk, surveyed 1,009 UK home owners over the age of 18, aiming to find out what the British public’s views were regarding home improvements after the Brexit vote. Surprisingly, they found that 29% of those polled were holding off from doing any home improvements this summer due to housing market uncertainty, the lower pound pushing prices up and job insecurities.

The survey asked participants: “Has the recent Brexit vote and market uncertainty made you less likely to do any home improvements this summer?” 29% stated that they had put off home improvements for the time being. However, of the 71% that said the Brexit vote hadn’t put them off, a large majority of people said that they would only consider carrying out emergency home improvements or small DIY jobs instead of big expenditure projects.

Participants who answered yes to the first question were also asked, “Why are you holding off on doing any home improvements?” and could choose from multiple answers. The results are below:

1. Lower pound causing prices to go up – 34%
2. Job insecurity – 21%
3. Waiting for the markets to stabilise -18%
4. Housing market uncertainty – 17%
5. Thinking of relocating outside of the UK – 10%

The lower pound and higher prices were at the top of many people’s worries when committing to home improvements with 34% of the vote, while many were concerned about the housing market and markets in general after the referendum vote. Surprisingly, 10% of those polled stated that they were thinking of relocating outside of the UK. Other reasons mentioned were a lack of money, would only consider emergency projects, and spending money elsewhere instead of the house.

Neil Beard from Mayfair Granite commented on the survey results, saying:

“This survey shows that the Brexit vote has affected all parts of society, with many wondering what this decision means for the future of the housing market, money markets and job markets. It’s interesting to see that 10% of those polled were thinking of relocating outside of the UK; whether this is a knee jerk response to the vote or not, it just shows the uncertainty that we are all experiencing right now.”

Adding, “On June 23rd, the British people made the momentous and unprecedented decision to leave the EU. The KBB (Kitchen, Bedroom and Bathroom) industry as a whole was shocked by the outcome, however it is now up to manufacturers and brands like ourselves to maintain their competitive prices and to reassure the British people that its business as usual.”

Blog shared by: Stewart Corlett Stewart.Corlett@bronco.co.uk

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Home and Living

Kitchen Trade Expert Shares Five Benefits of Fully Assembled Units

The UK kitchen and bedroom fitting sector is currently facing a number of challenges. The UK Trade Skills Index 2023 report revealed that 937,000 new workers will be needed in the construction and trade industries by 2032 to meet the demands of the sector, impacted by the widening skills loss posed by Brexit, an ageing…
Read More
Breaking News

Why are HMO numbers falling?

The latest research from COHO, the HMO management platform, reveals that despite little change in tenant demand, house share availability has dropped by almost -60% in some parts of England, raising the question of whether we’re seeing an HMO landlord exodus. COHO’s analysis of house share listings data* shows that in England, the number of…
Read More
Breaking News

Only 27% of homes have been fixed in a £1.8bn Govt programme

Report shows only 27% of homes have been fixed in a £1.8bn Govt programme, as red tape and asbestos keep thousands in the cold Thousands of homes will face another winter of fuel poverty due to a raft of failures as scheme to fix them hits buffers Hundreds of millions of pounds of allocated grant…
Read More
Breaking News

UK House Price Index for July 2025

The latest index shows that: – The average monthly rate of house price growth in July was +0.3%. The average annual rate of house price growth in July was +2.8%, down slightly from +3.6% in June. As a result, the average UK house price sits at £269,735.   Director of Benham and Reeves, Marc von…
Read More
Breaking News

ONS House Price Index – Thoughts from the Industry

Thoughts from the Industry about the latest ONS House Price Index. Nathan Emerson, CEO of Propertymark: “It is positive to see the housing market progressing forward in strength. As we move towards the autumn months, hopefully this momentum will continue. “There continues to be two factors that may weigh heavily on consumers’ minds as they…
Read More
Overseas Property

European capitals hold £76bn worth of property potential

The latest market insight from international property consultancy, Astons, reveals that across seven major European capital cities for property investment activity, the current market holds £75.8bn worth of opportunities. Astons has analysed the current property markets in seven major European capital cities* to see which have the most residential listings and therefore offer the greatest…
Read More