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Home Renovation and Design Firms Bullish on 2016

Home Renovation and Design Firms Bullish on 2016

The majority of UK home renovation and design businesses anticipate widespread revenue and profit growth in 2016 (75% and 70%, respectively), according to the 2016 Houzz UK State of the Industry study.

The report from Houzz Inc. provides a review of 2015 and an outlook for 2016 for residential renovation and design businesses, based on data reported by nearly 500 UK-based professionals in the Houzz community.

Revenue growth expectations vary slightly by industry group. Growth is expected among 73% of architecture and design businesses, 76% of design and build companies, 72% of decor companies, and 69% for all other groups. Across the board, half of businesses expect revenue to grow 10% or more. To accomplish their projected growth for 2016, businesses plan to increase marketing/sales efforts, bring in larger budget projects, offer new products/services and improve customer experience. Furthermore, over a quarter of professionals in the Houzz UK community plan to increase their headcount in 2016.

“With a community of more than 2 million unique monthly users and more than 40,000 active home professionals, Houzz UK has unprecedented insights into the health of the home renovation and decorating industry around the globe,” said Nino Sitchinava, principal economist for Houzz. “Our research points to healthy growth in 2015 among architecture, design, renovation, decor, and other small home-related businesses in the Houzz UK community, and a positive outlook for 2016.”

The full 2016 Houzz UK State of the Industry report can be supplied on request.

There are more than 1 million active home renovation and design professionals on Houzz globally, including architects, interior designers, home builders and design and build firms.

The Houzz UK State of the Industry Study was conducted among home renovation firms in the Houzz UK community that offer services related primarily to residential renovation and/or design. The study was fielded February 16-March 30, 2016.

houzz.co.uk

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