Home-related purchases are expected to surge, thanks to lockdown savings and the end of the stamp duty holiday leading people to relocate, according to research from eBay Ads UK.
The survey of 500 Brits – all looking to move in the next six months – found that the top priority purchases are sofas and beds (54%) and household appliances (53%). Interestingly, 39% of respondents said they would prefer to renovate a property rather buy one that is already done up, with DIY equipment that 35% will invest in when they move.
“This September will be a key moment for home movers, potentially marking a final rush of house purchases as the stamp duty holiday comes to a close,” said Harmony Murphy, GM Advertising UK at eBay. “With so much to think about and buy when it comes to moving, many people don’t know where to start. This presents an important opportunity for brands to help people find and do everything that they need. By using data to understand customers, brands can solve problems for home movers rather than simply selling.”
When asked why they were in a position to move in the next six months, 56% stated the savings they made during the lockdowns as enabling them to move sooner than they might have been able to without the pandemic, which means there is a larger audience of home movers looking to furnish properties And, according to eBay Ads UK, there will be an even bigger surge in-home related purchases when the extended stamp duty holiday comes to an end in September.
Searches in the ‘Home, Furniture and DIY’ category peaked on 28 March – three days before the original stamp duty deadline – with a 35% increase from the same day the month prior. And, across March 2021, there were 81 searches made in the category every second on ebay.co.uk.
There’s also evidence to suggest that brands should be targeting younger people who are leaving home and renting out for the first time. 25% of those 34 and under said they are moving out of their parents’ house – with the figure jumping to 37% among 16- to 24-year-olds.
