The Private Housing RMI Market Report – UK 2021-2025 is the first to provide a review of the private housing market for repairs, maintenance and improvements (RMI). It is a companion report to another first time report on social housing RMI.
This 1st edition of the Private Housing RMI Market Report reviews the market for home repairs, maintenance and improvements (including extensions), but solely focusing on the private sector i.e. homeowners and the private rental sector. The reports covers the size and performance of the market in recent years, market shares and performance of individual sectors within residential RMI, as well as key trends and market influences. This report provides an analysis of recent market performance and forecasts to 2025. The analysis is both qualitative and quantitative, with indications of key trends and views on the future prospects for the market.
Private housing RMI output has been fairly stable in recent years, at around £22bn p.a. between 2017 and 2019. While demand for private housing RMI work fluctuates in line with trends in the overall economy, the peaks and troughs are less severe than for newbuild, as a large proportion of RMI is essential work e.g. fire safety measures. However, in line with the rest of the construction industry private housing RMI was impacted by COVID-19 restrictions in 2020, with contractors’ output falling by 13%, compared to a decline of 21% in newbuild output.
It appears the UK is gradually recovering from the effects of pandemic. Construction output is on track to return to pre-COVID levels although the threat of further waves could bring further disruption to consumer spending, business confidence, investment and funding priorities. For private housing RMI, the most recent data is encouraging. Housebuilding levels are forecast to recover once the UK emerges from COVID-19 restrictions, with growth underpinned by long-term demand for more housing due to population growth and the changing structure of households, with a declining average household size and greater demand for single person dwellings.
Key issues covered in the report:
Areas of particular interest include:
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