46% of consumers planning heating and plumbing work this year

Against the wider backdrop of the cost-of-living crisis – and with no sign immediate sign of relief for consumers or businesses – Eureka! has taken the pulse of consumers about their home improvement plans this year.

The sector can take some reassurance from the fact that two-thirds of households are still planning work on their property that will require paying at least one tradesperson in 2023.

Demand is forecast to be very ‘bumpy’ though – we can expect to see demand being most resilient amongst homeowners and those in the highest earning brackets.

Eureka has also uncovered which trades are most likely to be in demand in 2023. Amongst the homeowners who signalled they are planning work or projects, the most frequently mentioned jobs in the pipeline are with:

  • Plumber/heating engineers (46%)
  • Painter & decorators (30%)
  • Electricians (27%)
  • Multi-skilled (19%)
  • General builders (19%)
  • Fenestration (19%)

The full list of the most popular trades upcoming for 2023 can be seen in Eureka’s article here: https://www.eurekaresearch.co.uk/how-many-households-are-planning-work-to-their-property-in-2023/

Eureka! also suggests that in the context of the home improvement sector, there could be a real squeeze on brands who position themselves in the ‘middle ground’ in their category. Growth is more likely to come from those buying at the premium end of the market, or those looking for good value for money at the other end of the spectrum.

Around 8 in 10 higher earners intend to bring a professional trade into their home at some point during this year; suggesting a very strong year ahead for those positioning themselves at that end of the category.

Dave Ruston, Director at Eureka! Research commented: “Installers can take some comfort from our recent data but we can assume that some of this work is likely to be routine maintenance or repairs. The general economic forecasts all seem to indicate that a challenging year still awaits which will inevitably dampen demand for bigger ticket items such as bathrooms and kitchens”

More information about Eureka’s work in this sector can be viewed here: https://www.eurekaresearch.co.uk/bathrooms-market-research/