Home is where the heart is—so, why not make your home look like a million bucks? From repainting the walls to constructing your private home theatre—the options are endless!
The home improvement industry statistics featured in this article will help you understand the practice fancied by many Canadians. If you want to find out what the actual standing of home improvement is, keep reading.
Top 10 Home Improvement Industry Statistics for 2022
- In 2018, revenue of the global DIY and home improvement market was more than $904 billion.
- The average home improvement industry growth in Canada was at 1.3% in 2015–2020.
- In 2019, the Canadian home improvement industry generated $50.2 billion in sales.
- 41.8% of Canadians chose Home Depot as their primary home improvement and DIY retailer.
- 21.6% of Canadians visit home improvement and DIY stores monthly.
- Only 20% of Canadians were planning to do larger projects, remodelling numbers show.
- On average, homeowners in Ontario spend $13,603 on home renovations.
- 73% of Canadians have carried out a renovation project in the past.
- The most popular project among home renovators is interior painting.
- The renovation costs of an average-sized standard bathroom are between $14,400–$19,500.
Market Statistics for Home Improvement
In the following section, we focused on statistics relevant to the home improvement industry in Canada.
1. In 2019, the Canadian home improvement industry generated around $50 billion in sales.
According to home improvement industry statistics of 2020, sales are forecast to increase in the next few years. Fortunately, there are numerous home improvement retailers in Canada to facilitate these sales.
Statistics also reveal that Canadian consumers spend money on home improvement products in two types of stores—big box stores and building centers. The two hold a market share of 26% and 46%, respectively.
2. In 2018, revenue of the global DIY and home improvement market was more than $904 billion.
According to home improvement market statistics, this figure denoted a slight increase of 1.1% compared to 2017. Even though Europe and North America’s combined population accounts for a mere 17% of the global population, these two continents represented around 87% of the mentioned market.
3. The average home improvement industry growth in Canada was at 1.3% in 2015–2020, statistics on home improvement reveal.
External competition and instability in residential construction have threatened home improvement industry operators over the past five years. Despite the risks, the rising cluster of large operators, such as Home Depot Canada, has made it possible for the industry to fight off external competition.
4. The Canadian home improvement stores’ market value is $25 billion, home improvement facts show.
Also, there are 2,269 such companies in Canada, with as many as 88,870 employees. What’s more, it has been established that Home Depot of Canada Inc. and Lowe’s Companies Canada ULC are the companies with the largest market share in this sector.
5. Home Depot generated around $8.8 billion in sales in 2019, Canadian home improvement industry statistics show.
It’s no secret that Home Depot is huge in Canada. This retailer is the sector’s leader when it comes to yearly sales. Lowe’s Canada comes in second place with an estimated $7.1 billion in sales, followed by Home Hardware Stores with $6.6 billion.
Market Statistics for Home Improvement Customers
It’s high time we turned to Canadian home remodelers or home improvers. What are their habits and where do their preferences lie? Do Canadians prefer shopping at Walmart when working on their projects or do they have other go-tos? Find out below!
6. Home improvement industry statistics reveal that 41.8% of Canadians chose Home Depot as their primary home improvement and DIY retailer.
Based on a 2019 survey of 6,850 Canadians, almost half of the respondents cite Home Depot as their favourite retailer of DIY and home improvement products. Canadian Tire comes in second, favourited by 25.4% of survey respondents. Lowe’s rounds up the trio of favourite DIY and home improvement retailers as it’s a go-to of 9.3% of respondents.
7. 45% of Canadian homeowners have heard of the DIY Network.
Nevertheless, just 26% of Canadians have watched the DIY Network in the past, DIY analysis statistics reveal. Of those who have watched it, 56% watch less than an hour a week, while 30% watch about 1–3 hours per week.
As many as 79% of the DIY Network audience claim the channel is “informative,” while 64% describe it as “entertaining.” What’s more, 31% of Canadian viewers think of the DIY Network as “trustworthy.”
8. 21.6% of Canadians visit home improvement and DIY stores monthly.
According to home improvement industry statistics from 2019, many Canadians visit home improvement and do-it-yourself stores on a monthly basis. Interestingly, the majority (44.8%) goes to the stores only a few times a year.
9. As of 2019, the most popular project among Canadian home renovators was interior painting.
Renovation market trends point out that interior painting is becoming more popular in Canada, with service requests growing 142% in February–May 2019. Interestingly, homeowners in British Columbia were the most inclined to carry out this kind of project.
10. 73% of Canadians have carried out a DIY project in the past, home improvement statistics show.
Of those Canadians who have renovated a room themselves, 45% have revamped a bedroom. What’s more, bathrooms were the second most common space for DIY ventures (43%), followed by basements (37%).
Remodelling statistics also show that 26% of Canadians think they should renovate their basement, and only 9% believe their bedroom could use a do-over.
11. 57% of homeowners in Canada finished one or two small repairs in 2019, while 36% finished between three and ten repairs.
A 2019 Reno Report found that the province with the highest percentage of home renovations over $50,000 was Alberta. Moreover, home improvement stats revealed that 77% of all Canadian homeowners had the cash on hand to run any home improvement project.
Home Improvement Industry and COVID
The pandemic has taken the world by storm, and the home improvement industry was struck by it as well. Now, how has it affected Canadian customers? Time to find out with the statistics below.
12. 80% of Canadians were still considering home projects in 2020.
According to home renovation statistics from 2020, there were no significant slowdowns in the industry when the pandemic hit the country. Moreover, stats show that the second wave of COVID-19 that primarily affected Quebec and Ontario did not slow down the industry, either.
13. Only 20% of Canadians were planning to do larger projects.
Astoundingly, 64% of them didn’t want to do home improvement projects during the pandemic because of the fear of having outsiders near their house, remodelling industry trends reveal. The second most common reason was the lack of finances—cited as one by 18% of the HomeStars survey respondents.
14. 50% of surveyed homeowners took advantage of staying home during the pandemic to start projects such as pools and decks.
Facts about consumer behaviour towards home improvement reveal that other popular projects homeowners were interested in included hot tubs, landscaping, fences, and playgrounds. Also, 25% of survey respondents claimed that the reason for home remodelling was to create more functional and fun outdoor areas as they are spending more time at home.
Home Improvement Spending Statistics
Are you eager to find out more about Canadians’ spending habits? Check out the following statistics to learn just how much Canadians are willing to spend on home renovation.
15. On average, homeowners in Ontario spend $13,603 on home renovations.
Home remodelling business facts reveal that around 8% of Canadian homeowners spent $20,000 or more on home improvement in 2019.
When it comes to funding the projects, most homeowners rely on cash or savings—58%. As many as 34% of them are planning to borrow to cover the costs. Finally, 8% of homeowners are undecided.
16. 72% of Millennials planned to spend more money on more extensive home renovations in 2020.
According to 2019 home improvement market statistics, Millennials planned to spend the most money in 2020. Interestingly, the Silent Generation planned to spend the least. Namely, less than 50% claimed they would spend as much on major and minor repairs in 2020.
17. In Canada, the average kitchen remodelling cost (for necessary repairs) is up to $30,000.
(Tango Design Studio)
Based on kitchen remodelling facts, on average, kitchen renovation starts at around $25,000 and can cost up to $30,000. This sum covers the most basic repairs and home improvement expenses. If you want a more intricate renovation, the price tag might easily hit $50,000 or more, based on home remodelling facts.
Countertops account for a considerable part of the overall cost of a kitchen remodel. They are typically priced between $100 and $200 per square foot, including installation and fabrication.
18. The renovation costs of an average-sized standard bathroom are between $14,400–$19,500.
Moreover, bathroom remodelling facts show that the renovation of an average-sized (10’x10′) economy bathroom costs anywhere between $12,300–$14,400. As for luxury bathrooms, these can go up to a whopping $41,200 in remodelling costs.
Overall, these home improvement industry statistics show that Canadians are ready to do extensive research before taking on a new project and investing money in it. The figures also indicate that the country’s home improvement industry will continue growing.
Our team also invites you to check the latest furniture industry statistics with a focus on Canada. Something tells us that it might spark your interest and give you an idea or two for your home improvement project.
Now, which stats or facts did you find the most interesting? If you deem these stats helpful, please share this stats page on social media.
What is the largest home improvement store?
The largest home improvement retailer in 2019 was Home Depot Canada, with an estimated $8.8 billion in sales. The second most popular home improvement retailer in the country was Lowe’s Canada, with sales totalling $7.1 billion in 2019. It is then followed by Home Hardware Stores, which generated $6.6 billion in sales the same year.
What is the most popular home improvement?
Based on a 2019 survey of over 8,000 respondents, 27% of Canadians remodelled their kitchen, while 25% remodelled a guest bathroom. Now, what project do Canadians fancy the most? Stats show that Canadians love to do interior painting the most.
What falls under home improvement?
Generally, renovations fall into three categories.
First, we have lifestyle renovations. That is the type of remodelling which serves to meet your changing needs. Projects may include transforming an unused attic into a guest bedroom or constructing a sunroom for pleasure.
Second, we have the so-called retrofit projects. These focus on mechanical systems or your home’s shell. Examples of such projects include putting on new siding, upgrading insulation, or replacing a furnace.
Third, we have repair or maintenance renovations. These projects are aimed at keeping your house in working order, as well as keeping it comfortable. Examples here include reshingling a roof or caulking windows, among others.
(Government of Canada)
What is the most expensive room to remodel?
According to the Appraisal Institute of Canada, the average amount homeowners ought to spend on a kitchen renovation is up to 15% of their home’s overall value. Stats also point out that the average amount spent on a kitchen is $50,000.
How big is the home improvement industry?
Based on statistics, the revenue of the Canadian home improvement industry reached $52.6 billion in 2020. Moreover, Canadian home improvement industry statistics show that this figure will increase in the following years, reaching $56.3 billion in 2022.