Britons are collectively planning to spend £4.5 billion on home improvements over Easter, with many hoping to add value to their property, a survey showed today.
The average person will spend £181 on DIY projects during the Bank Holiday weekend, rising to more than £200 among people in London, according to research by The Co-operative Bank.
Nearly a third of people said they were planning to carry out work in a bid to add value to their property, while 28% wanted to improve their current home because they could not afford to move.
But 16% of people said they were planning a DIY project so that they did not get bored, 13% want to make their home more environmentally friendly and 9% want to create more space for their expanding family.
Homeowners are most likely to carry out work on their garden and lounge at 18%, followed by the main bedroom at 17% and the kitchen at 15%.
But while 33% of people will be painting and 29% will be gardening, 12% of people planning home improvements will be buying new furnishings.
Terry Jordan, head of mortgages at The Co-operative Bank, said: “In the current economic climate with the slowdown in the property market, people are not moving house as much as before.
“Instead the research clearly shows that people are looking to make improvements to their existing homes in order to add value and better their living space.”
:: Onepoll.com questioned 3,500 people during March.
This probably accounts for why the ideal home exhibition is this week.
I hope to get another storage drawer made for the workshop this weekend