A new analysis of the booming market for home RMI (repair, maintenance and improvement) work is forecasting it could be worth more than £22bn a year by 2025, explains UKCW.
The analysis looks at the multiple drivers for growth, including the huge opportunities around low carbon, energy efficiency retrofits of the UK’s housing stock.
UKCW is the construction industry’s largest event, taking place next month at the NEC in Birmingham.
The report breaks down the current RMI spend in both public and private sector housing. It highlights the trends that will shape the market over the coming years, including the surge in remedial work post-Grenfell, sustainability targets to decarbonise homes, and the post-pandemic shakedown that is leading to so many changes in the way buildings are used, including our homes.
The report reviews recent levels of activity in the RMI sector, the growth in planning applications for home improvements and extensions, household numbers and demographics, rental market growth and related issues in social housing.
It reveals following an initial drop in RMI activity in 2020, private residential work made a quick recovery. March 2021 saw the highest surge in new work for over a decade, at £2.1bn for one month alone.
It also highlights relevant third-party research, including a recent report by the Federation of Master Builders with the Centre for Research into Energy Demand Solutions (CREDS). This suggests there is an £11bn annual market for RMI work involving energy efficiency retrofit.
“RMI, refurbishment, retrofit – whatever you call it, this is the big growth market for the construction supply chain over the coming years. It’s a huge issue for UKCW visitors and for the show’s expert speakers and exhibitors too.
“RMI has shown greater resilience than new work during the pandemic and is set for growth through to 2025. We’re pleased to offer UKCW visitors access to the relevant data and insights they need to plan for the opportunities ahead, and we will be looking at these issues in more depth throughout this year’s show.”
A free copy of the AMA Research report is available to all who register to attend UKCW. It is not available elsewhere.
Free registration to UK Construction Week is now open
– Modern Methods of Construction
– Building Tech
– Civils, Energy and HVAC
– Surface and Materials
– PLUS… Grand Designs Live
For regular event updates, including safety protocols and new features, follow UKCW on social media using the hashtag #UKCW2021.
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