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 How much is spent on DIY?
According to various reports last year, the amount spent in the UK on DIY projects ranges from £15bn to £20bn. A large sum of money and more interesting when you break it down per household. There are currently around 25 million households in the UK so that works out at £800 per property per year.
Other reports estimate that the average cost of a DIY project is £2400, so that means that one in three households will undergo a project of that scale every year. Other reports suggested that at any one time almost 10million people were planning a DIY project within the next 2 months. So you can see that the DIY marketplace is huge and it's expected to grow by almost 20% over the five years to 2008. Why is DIY so popular in the UK?
Many experts agreee that the increasing burden of stamp duty is putting many people off from moving. Just to move home from one £300,000 house to another would cost £9000 in stamp duty - enough money to fund a very nice kitchen and bathroom improvement project.
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Report on DIY market
When Focus Wickes DIy reported on the DIY market place in 2004 they suggested that the market had grown by 33% over the previous five years and stood at £12.5bn.
They found that the spend per head on DIY was £250+ per year, with around £1 in every £12 of non-food expenditure being spent on DIY. Interestingly decorative materials like paint and wallpaper made up for over 30% of that spend. They found that people in the south west spent the most on DIY, averaging over £2500, which was more than 40% above the national average. People in Scotland spent the least at £760 per person.
As we reported elsewhere on the site, the desire to improve communal areas like kitchens is becoming increasingly popular, with many people chosing home entertaining now.
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