Renovation Rates During Spring 2024 In London. Economists expect three or four rate cuts this year, taking the base rate to around 4.25%, and more rate cuts next year. Home renovation spending is expected to decrease from $486 billion to $457 billion in 2024.

The most popular price points are either £750,000 up to £1 million or £2m plus. Moreover, with inflation anticipated to remain under control and even to decrease to.