Saturday, 9 June 2007

DIY Survey

The number of DIY enthusiasts is on the rise with more than half of homeowners undertaking some work around the house over the past 12 months, new figures show. A survey by Halifax found that 58% of respondents had redecorated, installed a new feature or modernised their property during the past year, up 12% on 2005's figures. More than a quarter of those who had undertaken some form of home improvements estimate the work they have completed has boosted the price of their house by more than £5,000.Almost two-thirds of people who carried out work on their home said it was to update or modernise their property, with more than a third stating it was to improve their standard of living. Adding to the value of a house was cited by 25% of people in the latest survey, compared to 7% last year. There has also been a hike in the number of people who took on DIY projects to improve the energy efficiency of their home. Almost a fifth of respondents cited reducing fuel bills as a reason for doing their home improvements, up from 4% last year. Phil Jenks, head of mortgages at Halifax, said: "Home improvements are becoming more popular with people looking to add value to their home and improve saleability.” Whilst DIYers continue to favour the more simple home improvements, such as redecorating, there are also signs that people are beginning to view their gardens as an extension of their home and are investing more time and money in improving the outdoors as well as the indoors.” He added: "It is good to see more people citing reasons such as reducing fuel bills and increasing energy efficiency for undertaking home improvements as it shows that climate change is moving up people's agenda."

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