Sevenoaks and Tunbridge Wells are rising the ranks in the stakes for the UK’s top home improvers, according to a new study by Barbour ABI. Regionally, Sevenoaks has submitted the fourth most applications for home improvement in the country, and stands in second place regionally. Tunbridge Wells has risen four places this year to nestle in fifth place for the region, suggesting more and more local people are choosing to love it rather than list it.
Why are people choosing to improve their homes rather than move?
House Prices
According to the study, rising house prices have made home improvement a more attractive investment, with the number of building applications growing as house prices increase. There is within the figures a strong suggestion that households in the South East have over the past three to four years increasingly chosen to improve rather than move. Sevenoaks and Tunbridge Wells boast great connections to the capital and yet have countryside within easy reach, so it’s not surprising that people are choosing to say put rather than move elsewhere, especially as similar properties become increasingly scarce.
Wealth
As we previously reported on theknow, Tunbridge Wells has more cash to splash, and a good chunk of this goes on home improvement, according to the Office for National Statistics’ Family Spending survey. This suggests that households across the region spent almost £7 billion on home improvements annually across 2016 and 2017, with an average spend of about £1,900 a year per household on altering and improving their home.
Children
The South East tops the leader boards as the region with the most conservatories and outbuildings, reflecting our rural setting, but the biggest growth is in single-storey extensions. For growing families, this is the perfect solution to staying-put, which is just as well, as Tunbridge Wells is a great place for kids.
