Consumers are increasingly focusing on funding improvements to their homes rather than moving, given the housing shortage, according to new research.
The Credit Union Consumer Sentiment Survey found 45 per cent of Irish consumers surveyed are planning to spend a “substantial” amount on home improvements in the next two years.
The ongoing difficulty in the housing market was a key factor in the decision to invest in home improvements, with 39 per cent saying problems in finding a suitable or affordable home were behind the decision.
“With two in five consumers saying that problems in finding a suitable or affordable property are playing a key role in their home improvement spend, the sentiment survey sheds further light on continuing problems in Ireland’s housing market,” said economist Austin Hughes.
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Sharp rises in oil prices and enhanced Sustainable Energy Authority of Ireland grants could also steer people towards energy-related upgrades.
More than a quarter – 27 per cent – said they were planning to spend on refreshing their homes, such as painting and decorating.
Almost half – 49 per cent – said they have carried out significant home improvements in the past two years.
Some 45 per cent said they would fund the improvements from savings, with 23 per cent tapping their incomes.
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One in four plan on borrowing to finance improvements, with credit unions more popular than banks as a source at 14 per cent versus 9 per cent.
“The survey suggests that ... [people] want and need to maintain and improve their homes,” said Irish League of Credit Unions chief executive David Malone. “It is encouraging that the local credit union is regarded as the most important source of lending for home improvements. This type of support is at the heart of what credit unions do every day.”
The research was conducted in partnership with Core Research as part of the March 2026 Credit Union Consumer Sentiment Survey, questioning 1,000 adults between March 4th and 17th.
