Structural changes remain popular through recession
Over 3 million homeowners are planning major structural work on their home in the next 12 months, research by Sainsbury’s Home Insurance has discovered.
The figure, which represents 13% of homeowners, is down 38% compared to last year, when more than a fifth (21%) of householders were planning structural changes in the year ahead.
Loft conversions are the most popular structural change, planned by 875,000 households.
Side extensions take second place at 650,000, followed by garage conversions at 630,000.
Loft conversions were the most popular change last year; however second and third place were taken by building a conservatory and adding a rear extension.
Homeowners making a major structural change in the year ahead will spend an average of £22,700, up 17% compared to the average planned spend of £17,400 last year.
Joanne Mallon, Sainsbury’s Home Insurance manager, said: “In the current housing climate, creating extra space in your home is another option for those who have maybe decided to put their plans to move on hold.”