People are spending more money on their homes than ever, sacrificing luxuries such as new cars and eating out.
A poll of 2,000 homeowners, commissioned by Daikin, found that, despite concerns around the economy, average spending on home improvements has increased to £3,140 per year – up from £2,870 in 2024.
Almost 30% plan to spend more on home improvements in 2026 than they did last year, with homeowners sacrificing holiday plans (24%) and buying a new car (14%) in favour of renovations.
Two-thirds (67%) are shifting focus to home improvements that prioritise comfort, while 32% want more control over their energy bills. Around 22% are worried about energy security, and 32% are concerned about the price volatility of gas and electricity.
The poll also found 63% consider investing in energy efficiency to be very important to them, to ‘futureproof’ their home against price volatility. In fact, 55% of homeowners believe making their property more energy efficient would increase its resale value, with 43% making changes to attract future buyers, even if they have no plans to move soon.
Almost half said alternative energy sources like heat pumps and solar panels would be good investments for their future. The research also found that others considered improving insulation (35%), draught-proofing doors and windows (27%) and double or triple glazing (25%) among their top priorities.
Lucy Gaby, Residential Marketing Manager from Daikin, said: “We’re seeing a clear shift in priorities, with homeowners increasingly willing to invest in their living environment. For those looking to take more control, starting with a heat pump and improving insulation can make a real difference.”