Cost of Property maintenance increased 17% this winter

Cost of Property maintenance increased 17% this winter

16:05 PM, 8th December 2021, About 2 years ago

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Market analysis, by Benham and Reeves, has revealed how the cost of maintaining our homes this winter is as much as 17% higher than it was this time last year. They researched the average cost of maintaining a property which can include everything from cleaning the gutters, replacing broken roof tiles, fixing leaky pipes and radiators, looking after the lawn and even repainting and how it has changed on an annual basis across each area of the UK market.

The research shows that the average UK property owner is facing a cost of £2,699 to maintain their property, up 12% (£284) in the last year.

The biggest increase has been in the North West, where the average cost of maintaining a home has climbed by a hefty 17% year-on-year.

Wales and the East Midlands have also seen the average cost of maintaining a home increase by 15%, with every other region bar two seeing a double-digit increase.

Just the East of England and London have seen the cost of maintaining a home increase by less than 10%. The East of England has seen a 9% uplift while London has seen an increase of just 3%.

However, at an average of £5,073, London is home to by far the highest property maintenance costs of any UK region.

Covid has caused all sorts of issues and not only has the cost of materials increased but so too has the cost of labour. So you’re likely to find that even the most basic home maintenance is going to cost you more now than it might have previously and you may well have to wait a while before the work gets done.

Estimated maintenance cost data sourced from The Balance and applied to average house price data sourced from House price Index.

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