Wales is experiencing a notable surge in home renovations as more households opt to invest in upgrading their current properties rather than relocating. This trend is driven by factors such as rising mortgage rates, escalating moving costs, and a limited housing supply, prompting homeowners to enhance their existing living spaces.
According to data from Pepper Money, home improvement loans now account for 9.7% of all secured lending in the UK, making them the second most popular reason for taking out a loan. In cities like Cardiff, the demand for home renovations is particularly strong, with homeowners seeking to increase property value and improve comfort through projects like loft conversions and energy-efficient upgrades.
The trend is also evident in search behaviors, with a 19% increase in monthly UK search demand for ‘home improvement’ in early 2025. Popular renovation projects include kitchen and bathroom modernizations, loft conversions, and the addition of outdoor living spaces. These investments not only enhance the quality of life but also offer potential financial returns, with some projects adding significant value to properties.
This shift towards home improvements reflects a broader national trend where homeowners are prioritizing personalization and long-term value over the uncertainties and expenses associated with moving.
