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Impact of House Moves on the Household Goods Market - UK - April 2010

Following a property boom that started in the late 1990s, and which saw a rapid rise in house prices, the number of residential property transactions declined steeply between the second half of 2007 and the end of 2009. The housing market was severely dented by the squeeze on lending following the collapse of Northern Rock in 2007 and the banking crisis that led to the recession in the following year. Mortgages became more difficult to obtain and confidence in the housing market was hit hard.

  • The household goods sector has been severely hit by the slump in the housing market. The number of households purchasing or selling a house or flat declined by over 40% to an only 700,000 between June 2008 and 2009.
  • Household appliances and furniture show the strongest link with moving home. Between a fifth and a quarter of purchasing of goods in these categories is to households in their present home less than a year.
  • The rented sector should not be ignored by retailers of products for the home. Any type of home move is likely to trigger purchasing of household goods and 10% of adults (4 million internet users) moved into rented accommodation in 2009.
  • Bathrooms and kitchens are a priority for those buying homes in need of updating. Some 8% of those purchasing a house or flat in the last 12 months bought a new kitchen and 15% bathroom fittings in 2008/09.
  • Household goods should be boosted in 2010 by more buying of houses and flats and improved consumer confidence. The desire to buy property is strong and 8% of adults who had delayed major improvements are now feeling more confident about spending.
  • There is a high level of planned spending on home improvements for 2010 and further pent-up demand that is unlikely to be fulfilled in 2010. Wish-list purchases that are more likely to be deferred beyond 2010 include a new kitchen, bathroom or home extension.

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Table of contents

  1. Issues in the Market

      • Key themes
        • Abbreviations
        • Future Opportunities

          • Customise your (rented) castle
            • Catering to a more diverse audience
              • Selling to the boomerangers
                • (Not so bitter) divorcees
                  • Property for the haves and have nots
                    • It’s going to have to be green…
                    • Market in Brief

                      • Steep housing slump, but signs of recovery
                        • Desire to buy property still strong
                          • Purchases for the home strongly linked to moving
                            • Furniture sales dependent on housing market
                              • Figure 1: Proportion of purchases made by those in home less than a year – top ten categories, 2009
                            • Major home improvements less immediate
                              • Small makeovers the dominant feature of 2009
                                • Plenty of pent-up demand for home improvements
                                • The Housing Market and Consumer Sentiment

                                  • Key points
                                    • Signs of recovery from steep housing slump
                                      • Figure 2: Number of UK residential property transactions*, seasonally adjusted, by quarter, 2005-09
                                      • Figure 3: Number of house-building completions, 1999/2000-2008/09
                                    • Housing transactions trigger purchasing
                                        • Figure 4: Number of residential housing transactions and retail sales, by quarter, by sector, 2007-09
                                        • Figure 5: House price inflation, by quarter, 2007-09
                                        • Figure 6: Trends in attitudes relating to the economic downturn, February 2009-February 2010
                                      • Homeowners outnumber renters by more than two to one
                                        • Figure 7: Total number of UK dwellings, by tenure, 2004-09
                                      • Improving consumer confidence
                                        • Figure 8: Trends in how respondents would describe their financial situation, February 2009-February 2010
                                        • Figure 9: Trends in the impact of the economic downturn on consumers, January 2009-February 2010
                                        • Figure 10: Trends in consumer sentiment for the coming year, January 2009-February 2010
                                    • House Moving Activity and Intentions

                                      • Key points
                                        • Home buying takes a plunge
                                          • Figure 11: Trends in experience and expectation of purchasing/selling a house/flat in the last 12 months, 2007-09
                                          • Figure 12: Experience and expectation of purchasing/selling a house/flat in the last 12 months, by age, 2009
                                        • Types of home move
                                          • Figure 13: Last home move, by type of move and timing, December 2009
                                          • Figure 14: Type of last house move, December 2009
                                        • A fifth of the population moved home last year
                                          • Figure 15: Timing of last home move, December 2009
                                          • Figure 16: Timing of last home move, by age, December 2009
                                        • Young and affluent home movers
                                          • Figure 17: Timing of home moves due to purchase, by age, December 2009
                                        • Moving home intentions for 2010
                                          • Figure 18: Home moving intentions for 2010, December 2009
                                          • Figure 19: Planning a home purchase in 2010, by age and socio-economic group, December 2009
                                      • Household Appliances and Equipment

                                        • Key points
                                          • Large kitchen appliances hit hard by recession and falling house moves
                                            • Figure 20: Five-year trends in purchasing of kitchen appliances in the last 12 months, 2005-09
                                            • Figure 21: Purchasing of kitchen appliances in the last 12 months, by how long in present home, 2009
                                            • Figure 22: Proportion of purchases made by those in home less than a year, by type of appliance, 2009
                                            • Figure 23: Profile of purchases of household appliances, by how long in present home, 2009
                                          • House purchase a bigger trigger than a house move
                                            • Figure 24: Purchasing of large kitchen appliances in the last 12 months, by house/flat purchase/sale in the last 12 months, 2007 and 2009
                                            • Figure 25: Proportion of purchases of large kitchen appliances made by those who have purchased/sold a house/flat in the last 12 months, 2007-09
                                          • Smaller appliances less affected by recession and falling house moves
                                            • Figure 26: Five-year trends in purchasing of other kitchen/household equipment in the last 12 months, 2005-09
                                            • Figure 27: Purchase of other kitchen/household equipment in the last 12 months, by how long in present home, 2009
                                            • Figure 28: Profile of purchases of other kitchen/household equipment, by how long in present home, 2009
                                            • Figure 29: Proportion of purchases made by those in home less than a year, by type of appliance, 2009
                                            • Figure 30: Purchasing of other kitchen/household equipment in the last 12 months, by house/flat purchase/sale in the last 12 months, 2007 and 2009
                                            • Figure 31: Proportion of purchases of kitchen/household equipment made by those who have purchased/sold a house/flat in the last 12 months, 2007-09
                                        • Furniture and Floorcoverings

                                          • Key points
                                            • Decline in purchasing of furniture and flooring
                                              • Figure 32: Five-year trends in purchasing of furniture and carpets/flooring in the last 12 months, 2005-09
                                              • Figure 33: Purchase of furniture and carpets/flooring, by how long in present home, 2009
                                              • Figure 34: Profile of purchases of furniture and carpets/flooring, by how long in present home, 2009
                                              • Figure 35: Proportion of purchases made by those in home less than a year, by product category, 2009
                                              • Figure 36: Purchasing of furniture and carpets/flooring in the last 12 months, by house/flat purchase/sale in the last 12 months, 2007 and 2009
                                              • Figure 37: Proportion of purchasers of furniture and carpets/flooring who have purchased/sold a house/flat in the last 12 months, 2007-09
                                          • Household Linens and Window Furnishings

                                            • Key points
                                              • Purchasing of household linens holds up, but values depressed
                                                • Figure 38: Five-year trends in purchasing of household linens and window furnishings in the last 12 months, 2005-09
                                                • Figure 39: Purchase of household linens and window furnishings, by how long in present home, 2009
                                                • Figure 40: Profile of purchases of household linens and window furnishings, by how long in present home, 2009
                                                • Figure 41: Proportion of purchases of household linens and window furnishings made by those in home less than a year, by product category, 2009
                                                • Figure 42: Purchasing of household linens and window furnishings in the last 12 months, by house/flat purchase/sale in the last 12 months, 2007 and 2009
                                                • Figure 43: Proportion of purchases of household linens and window furnishings made by households who have purchased/sold a house/flat in the last 12 months, 2007-09
                                            • Home Improvements

                                              • Key points
                                                • Bathrooms most impacted by downturn
                                                  • Figure 44: Five-year trends in purchasing of home improvements in the last 12 months, 2005-09
                                                  • Figure 45: Purchase of home improvements, by how long in present home, 2009
                                                  • Figure 46: Profile of purchasers of home improvements, by how long in present home, 2009
                                                  • Figure 47: Purchasing of household goods in the last 12 months, by house/flat purchase/sale in the last 12 months, 2007 and 2009
                                                  • Figure 48: Proportion of purchasers of household goods who have purchased/sold a house/flat in the last 12 months, 2007-09
                                              • Technology for the Home

                                                • Key points
                                                  • Home technology less impacted by recession
                                                    • Figure 49: Five-year trends in purchasing of technology for the home in the last 12 months, 2005-09
                                                    • Figure 50: Purchase of technology for the home, by how long in present home, 2009
                                                    • Figure 51: Profile of purchasers of technology for the home, by how long in present in home, 2009
                                                    • Figure 52: Purchasing of technology for the home in the last 12 months, by house/flat purchase/sale in the last 12 months, 2007 and 2009
                                                    • Figure 53: Proportion of purchasers of technology for the home who have purchased/sold a house/flat in the last 12 months, 2007-09
                                                • Consumer Confidence and Spending on the Home

                                                  • Key points
                                                    • Low consumer confidence hits spending on home
                                                        • Figure 54: Attitudes towards home improvements in last year, December 2009
                                                        • Figure 55: Attitudes towards home improvements in last year, by age, December 2009
                                                        • Figure 56: Attitudes towards home improvements in last year, by type of last house move, December 2009
                                                        • Figure 57: Attitudes towards home improvements in last year, by timing of last move, December 2009
                                                        • Figure 58: Attitudes towards home improvements in last year, by timing of last move due to purchase, December 2009
                                                    • Purchasing Intentions in 2010 – Home Improvements

                                                      • Key points
                                                        • Pent-up demand for home improvements, but little cheer for 2010
                                                          • Figure 59: Purchasing intentions for 2010 in terms of major home improvements or purchases, December 2009
                                                          • Figure 60: Purchasing intentions for 2010 in terms of major home improvements or purchases, by timing of house purchase, December 2009
                                                        • Falling mortgage payments release money for home improvements
                                                          • Figure 61: Purchasing intentions for 2010 in terms of major home improvement or purchases, by current personal financial situation, December 2009
                                                        • Job security more important to bathroom and carpet markets
                                                          • Figure 62: Statements on purchasing intentions for 2010 in terms of major home improvements or purchases, by statements on current personal financial situation, December 2009
                                                        • Carpets also most reliant on those with higher incomes
                                                          • Figure 63: Purchasing intentions for 2010 in terms of major home improvements or purchases, by current financial situation, December 2009
                                                        • Those most affected by 2009’s recession are keener to spend in 2010…
                                                          • Figure 64: Purchasing intentions for 2010 in terms of major home improvements or purchases, by impact of economic downturn on financial situation, December 2009
                                                        • …except for those who still have money worries
                                                          • Figure 65: Purchasing intentions for 2010 in terms of major home improvements or purchases, by financial situation over the next year, December 2009
                                                      • Purchasing Intentions for 2010 – Household Goods

                                                        • Key points
                                                          • More expensive purchasing still being put off
                                                            • Figure 66: Purchasing intentions for 2010 in terms of household goods, December 2009
                                                          • Less expensive household products recover more quickly
                                                            • Figure 67: Purchasing intentions for 2010 in terms of houseold goods, by timing of house purchase, December 2009
                                                          • Cuts in interest rates will benefit household goods in 2010
                                                            • Figure 68: Purchasing intentions for 2010 in terms of household goods, by current personal financial situation, December 2009
                                                          • Job security will also lead to higher spend
                                                            • Figure 69: Purchasing intentions for 2010 in terms of household goods, by current personal financial situation, December 2009
                                                          • Spend on large kitchen appliances deferred by those on tight budgets
                                                            • Figure 70: Purchasing intentions for 2010 in terms of household goods, by current financial situation, December 2009
                                                            • Figure 71: Purchasing intentions for 2010 in terms of household goods, by impact of economic downturn on financial situation, December 2009
                                                            • Figure 72: Purchasing intentions for 2010 in terms household goods, by financial situation over the next year, December 2009
                                                        • Funding for Intended Home Improvements

                                                          • Key points
                                                            • Consumers reluctant to borrow for home improvements
                                                                • Figure 73: Funding of future home improvements, December 2009
                                                                • Figure 74: Housing equity withdrawal – seasonally adjusted, Q1 2007-Q4 2009
                                                                • Figure 75: Ways most likely to fund home improvements, by age, December 2009
                                                            • Appendix – House Moving Activity and Intentions

                                                                • Figure 76: Experience and expectation of purchasing/selling a house/flat in the last 12 months, by demographics, 2009
                                                                • Figure 77: Last house move, by type of move, by demographics, December 2009
                                                                • Figure 78: Last house move, by type of move, by demographics, December 2009
                                                                • Figure 79: Timing of last home move, by demographics, December 2009
                                                                • Figure 80: Timing of last move due to purchase, by demographics, December 2009
                                                                • Figure 81: Home moving intentions for 2010, by demographics, December 2009
                                                            • Appendix – Household Appliances and Equipment

                                                                • Figure 82: Penetration of purchasing of household appliances, by how long in present home, 2005
                                                                • Figure 83: Profile of purchasing of household appliances, by how long in present home, 2005
                                                            • Appendix – Furniture and Floorcoverings

                                                                • Figure 84: Penetration of purchasing of furniture and carpets/flooring, by how long in present home, 2005
                                                                • Figure 85: Profile of purchasers of furniture and carpets/flooring, by how long in present home, 2005
                                                            • Appendix – Household Linens and Window Furnishings

                                                                • Figure 86: Penetration of purchasing of household linens and window furnishings, by how long in present home, 2005
                                                                • Figure 87: Profile of purchasers of household linens and window furnishings, by how long in present home, 2005
                                                            • Appendix – Home Improvements

                                                                • Figure 88: Penetration of purchasing of home improvements, by how long in present home, 2005
                                                                • Figure 89: Profile of purchasing of home improvements, by how long in present home, 2005
                                                            • Appendix – Technology for the Home

                                                                • Figure 90: Penetration of purchasing of technology for the home, by how long in present home, 2005
                                                                • Figure 91: Profile of purchasers of technology for the home, by how long in present home, 2005
                                                            • Appendix – Consumer Confidence and Spending on the Home

                                                                • Figure 92: Most popular statements on buying products to improve home, by demographics, December 2009
                                                                • Figure 93: Next most popular statements on buying products to improve home, by demographics, December 2009 (continued)
                                                            • Appendix – Intended Purchasing for 2010

                                                                • Figure 94: Most popular statements on purchasing intentions for 2010 in terms of major home improvement (planning to purchase), by demographics, December 2009
                                                                • Figure 95: Next most popular statements on purchasing intentions for 2010 in terms of major home improvement (planning to purchase), by demographics, December 2009 (continued)
                                                                • Figure 96: Most popular statements on purchasing intentions for 2010 in terms of major home improvement (would like to buy but unlikely in 2010), by demographics, December 2009
                                                                • Figure 97: Next most popular statements on purchasing intentions for 2010 in terms of major home improvement (would like to buy but unlikely in 2010), by demographics, December 2009 (continued)
                                                                • Figure 98: Most popular statements on purchasing intentions for 2010 in terms of major home improvement (planning to purchase), by demographics, December 2009
                                                                • Figure 99: Next most popular statements on purchasing intentions for 2010 in terms of major home improvement (planning to purchase), by demographics, December 2009 (continued)
                                                                • Figure 100: Most popular statements on purchasing intentions for 2010 in terms of major home improvement (would like to buy but unlikely in 2010), by demographics, December 2009
                                                                • Figure 101: Next most popular statements on purchasing intentions for 2010 in terms of major home improvement (would like to buy but unlikely in 2010), by demographics, December 2009 (continued)
                                                                • Figure 102: Other statements on purchasing intentions for 2010 in terms of major home improvement (would like to buy but unlikely in 2010), by demographics, December 2009 (continued)
                                                            • Appendix – Funding for Intended Home Improvements

                                                                • Figure 103: Most popular fund for future home improvements, by demographics, December 2009
                                                                • Figure 104: Next most popular fund for future home improvements, by demographics, December 2009 (continued)

                                                            Companies Covered

                                                            • Aldi Stores Ltd (UK & Ireland)
                                                            • Asda Group Ltd
                                                            • Bank of England
                                                            • British Market Research Bureau (BMRB)
                                                            • British Sky Broadcasting Group plc (BSkyB)
                                                            • Co-operative Group
                                                            • Council of Mortgage Lenders
                                                            • Debenhams Total (GTV)
                                                            • IKEA
                                                            • J. Sainsbury
                                                            • Lidl (UK)
                                                            • Marks & Spencer
                                                            • Northern Rock plc
                                                            • T-Mobile (UK) Ltd
                                                            • Tesco Plc
                                                            • Virgin Media Ltd
                                                            • Virgin Mobile
                                                            • Vodafone Group Plc (UK)
                                                            • Waitrose
                                                            • Wm Morrison Supermarkets

                                                            Impact of House Moves on the Household Goods Market - UK - April 2010

                                                            £1,695.00 (Excl.Tax)