Royal Mail’s Home Movers Study has revealed that spending on a new home doesn’t stop when contracts have been exchanged on the new property. The study found that nearly seven in ten recently moved homeowners (69 per cent) have either already carried out building work on their new home, or plan to do so within the next six months. Across the UK, 22 per cent of homeowners who have budgeted to extend their new home, have spent or expect to spend between £25,000 and £50,000. Two in ten (19 per cent) have budgeted over £50,000

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Meanwhile, 81 per cent of recently moved home owners have already carried out cosmetic work or will do in the next six months, the study found.

In London only 79 per cent of recently moved home owners have completed or are planning cosmetic work and 64 per cent have completed or are planning building work

It revealed that in the Midlands, more owners questioned than anywhere else in the UK are planning to spruce up their new homes following their move: 86 per cent have carried out or are planning cosmetic work in the next six months and 75 per cent say the same for building work. When it comes to buying furniture, the North West comes top with 61 per cent of homeowners having bought or planning to buy furniture in the next six months


Double glazing

Homeowners in London ranked the highest when it came to installing double glazing or new windows (22 per cent) and putting in a loft conversion (8 per cent). They were also ranked joint highest with the North East, the North West and Thames Valley (12 per cent each) when it came to extending a property

Royal Mail’s Home Movers Study has revealed that spending on a new home doesn’t stop when contracts have been exchanged on the new property. The study found that nearly seven in ten recently moved home owners (69 per cent) have either carried out building work or plan to do so within the next six months. Meanwhile, 81 per cent say the same of cosmetic work.

Move and improve

The study revealed that in the Midlands, more home owners surveyed are planning to spruce up their homes following their move: 86 per cent have carried out or are planning cosmetic work in the next six months, and 75 per cent say the same of building work.

When it comes to buying furniture, the North West came top with 61 per cent of recently moved home owners having bought or planning to buy furniture in the next six months, followed by Thames Valley and London at 60 per cent. The study found that only 49 per cent of recently moved home owners in Wales have bought or plan to buy new furniture within the next six months.

However, when asked about other structural work such as insulation, damp proofing and installing a new roof, recently moved home owners in Wales ranked highest, with 22 per cent having completed or planning such improvements in the next six months. This compares with 14 per cent of Scottish home owners.

Anglia (74 per cent) ranked highest for the number of recently moved home owners who have already smartened up their new homes by painting and decorating or plan to do so in the next six months. Meanwhile, the North East (40 per cent) took the top spot for the number of people saying the same of a new kitchen or bathroom.

Recently moved home owners in London ranked highest when it came to installing double glazing or new windows (22 per cent), or putting in a loft conversion (8 per cent). They were also ranked joint highest with the North East, the North West and Thames Valley (12 per cent each) when asked if they have already or if they plan to extend their new property in the next six months.

 Budgeting beyond the purchase

When it comes to budgeting, 42 per cent of recently moved home owners with a budget in mind for new furniture have spent or are planning to spend between £2,001 and £5,000, while only one in ten (13 per cent) will push the boat out and have spent/will spend over £5,000 on new furniture within the next six months, the study found.

However, across the UK, 22 per cent of home owners who have budgeted to extend their new home have spent or expect to spend between £25,001 and £50,000, while 19 per cent say an extension has cost, or will cost, over £50,000.

The study comes as Royal Mail encourages people across the UK to redirect their mail when moving home in order to protect themselves against identity fraud. If people don’t take out a Redirection when changing address, their mail is likely to land on their old doorstep, with no control over who opens it or uses the information it contains.