| 17.5°C Dublin

Demand for tradespeople soars as 68pc of homeowners plan renovations


Construction work. Photo: Stock image

Construction work. Photo: Stock image

Construction work. Photo: Stock image

Irish homeowners who are planning home renovations now anticipate challenges due to rising costs and availability of tradespeople, according to the latest research from Aviva.

While 68pc of homeowners look to renovate in the coming year, a fifth of those say that the price of updating the home, as well as the lack of available tradespeople, is likely to deter them from completing their plans.

This was particularly evident for homeowners in Dublin compared to the rest of Ireland. Over a quarter of those surveyed in Dublin anticipate challenges compared to only 7pc in Connacht and Ulster.

Women are more likely to take on renovation jobs themselves, according to Aviva. It is also those in the 45-54 age bracket who opt to complete the renovation themselves.

“The results show that huge numbers of people want to renovate, and while some people will undertake renovations, both big and small, into their own hands - for others securing tradespeople for the works, combined with the soaring costs of labour and materials, mean that plans might have to be put on the back burner for the foreseeable future,” Aviva managing director of personal lines Billy Shannon said.

The survey of over 1,000 Irish people also revealed that less than 20pc included in the research are certain that they have adequate home insurance in place.

Almost half of those surveyed aged 25-44 say they never review their cover compared to 31pc of those aged over 55.

A further 4 in 10 never review the rebuilding cost of their home, a factor that could have changed in the recent months due to inflation.

“If you don’t reprice this every few years, there’s a good chance your policy is not an accurate reflection of the value of your home,” said Mr Shannon.

“Therefore, given current inflation rates, this means for that large cohort of people in Ireland who don’t review before they renew – they are underinsured.”

He added that renovations, particularly large scale projects, will also increase the value of the property, which need to be reflected on the insurance policy.

Business Newsletter

Read the leading stories from the world of business.

This field is required

Most Watched