The home industry boom is well under way, according to an in-depth report from DIY giant Kingfisher.
More than two thirds of Europeans (68 per cent) are making home improvement changes such as painting and decorating, sprucing up the garden and installing a new kitchen to increase their homes value. This is a significant jump from the 17 per cent recorded in 2012.
The survey of 17,000 householders across nine European countries found that home owners wanted to adapt their homes to be more flexible with consumers keen to make the home an office, entertainment hub and a living space for “multi-generations.”
Sir Ian Cheshire, group chief executive of Kingfisher, commented: “As lifestyles change and living costs rise, people want more and more from their home. The modern home increasingly needs to be a flexible, adaptable space that is able to evolve as our lives change.”
The report also found that the UK is the most likely nation to buy DIY products online (46%) and most likely to use click and collect (28%.)
Cheshire said that rising energy bills were the “number one worry” for European homeowners, more so than rents and mortgages. Brands such as Google, British Gas, Honeywell and Siemens have rolled out “smart home” technology which allows consumers to track home energy usage on a real time basis, saving them money.
He added: “Rising energy prices are a very real fear – right across Europe, a bigger concern even than worries about paying the rent or mortgage. There is a staggering increase in the number of people who intend to prioritise energy efficiency and it is soaring bills that is driving this agenda.”
Kingfisher plc is Europe’s leading home improvement retail group and the third largest in the world, with over 1,130 stores in 10 countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix.