The cost of setting up a home has risen by 31.75% since April 2015, according to new analysis from Coventry Building Society. The rise lags behind the 38.6% increase in the Consumer Prices Index (CPI) over the same period, but several essential items have still seen sharp price growth.
The data, which tracks the cost of essential home items and services such as furniture, appliances and conveyancing, offers a detailed look at the financial pressures facing new homeowners – especially first-time buyers.
Among the biggest increases, conveyancing fees have soared by 83.5%, rising from £719 to £1,319. Fridge freezers are up 58.9%, now costing £508 compared to £320 in 2015. Other essentials outpacing inflation include kettles (up 50.2%), curtains (55.9%) and carpet (48.7%).
In contrast, some household items have risen more modestly, including double wardrobes (21.7%), paint (16.1%) and cutlery sets (17.3%). Meanwhile, home office desks, TVs and vacuum cleaners have all fallen in price, with TVs seeing the steepest drop at 35.7%.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “House prices often dominate the conversation when it comes to homebuying – but the costs don’t stop when you get your keys. Setting up a home comes with all sorts of additional expenses, from furniture and appliances to conveyancing and removals.
“It’s easy for buyers to underestimate these expenses, especially first-time buyers who are focused solely on saving for a deposit. Understanding where these costs sit can help brokers guide their clients through realistic budgeting and prevent unexpected shortfalls post completion. It’s all part of helping them not just buy a property but afford to comfortably live in it too.”
