7 Out Of 10 Homeowners Putting...


7 Out Of 10 Homeowners Putting Home Improvement Plans On Hold

Breda Forrest
Breda Forrest

12:24 4 Dec 2023

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Seven out of Ten homeowners are putting home improvement plans on hold.

That's the finding from a new survey by Peopl Insurance, which says the main reason for this is the rising costs of construction.

The report also shows more than half of those who did carry out work on their home failed to tell their insurance providers, leaving them at risk with under-insurance.

Spokesperson with People Insurance Paul Walsh thinks:

"7 out of every 10 people who were considering getting the work done are now deferring their home improvement project because of the continued increase in costs of building material. Put that in context, in the last year alone, the cost of plaster has increased by 20% and cement by a whopping 15%. That's according to the Central Statistics Office, so that's beginning to work its way through to homeowners and their fears about getting the home improvement project done".

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