Property market provides boost to home furnishings sector

Over 1.5 million UK households are currently wanting to move, moving soon, moving now, just moved or are settling in to their new home according to the latest Property & Homemover Report from property data and insight specialists, TwentyCi. 

For the home furnishings sector, this uplift of almost 20 per cent since 2019, offers significant opportunity since homemovers are proven to be the most valuable group of consumers spending more than £12 billion a year, over and above the transactional value of their new homes, equating to three percent GDP.  

In comparison to 2019, there has been a 27 per cent uplift in households Wanting to Move, a 32 per cent rise in those Moving Soon, a 47 per cent increase in those Moving Now, a 26 per cent increase in households that have Just Moved, but a drop of 38 per cent across those households Settling In; although this is set to rise significantly as the households in the preceding categories progress through the moving journey.   

The data also shows that the property market is maintaining momentum against last quarter’s record high with over 380,000 households still Wanting to Move. Moving Now and Just Moved households have experienced 85 per cent and 165 per cent increases respectively since Q3 2020, which reflects the uplift seen in last quarter’s Wanting to Move households.  

Comments Colin Bradshaw, Chief Customer officer at TwentyCi, said:  “The importance of this group of consumers to home furnishing companies is critical – particularly at a time when trading conditions continue to be severely impaired.

“Harnessing the data for targeted marketing campaigns will bring significant gains as these are customers that are actively wanting to buy. Consequently understanding where they are in the moving journey means you can reach them at just the right moment.”