Home-improvers looking for DIY dividends

Brits continue to look to home improvements for added value, as house prices flatten, a quarter of homeowners (28%) planning to undertake home improvements in the next twelve months will do so specifically to add value to their houses, according to the Halifax.

Almost half (44%) believe these home improvements will add up to £5,000 to the value of their property, with over one in ten (12%) believing the increase will be between £10-£25k

Most popular home improvements - Redecorating (71%); garden improvements (35%); new furnishings (33%); new carpets (25%); laminate/wood flooring (22%), new bathroom (21%).

Green improvements on the agenda - Almost one in five (17%) introduced energy efficiency measures into their homes as the environment acquires a growing importance

Trend in young developers strengthens - FTBs and younger people are more and more involved in home improvements with almost three quarters (74%) of 18-34 claiming to have carried out home improvements in the last twelve months, up from two-thirds (68%) last year.

DIY devotees - It's not all about the money though, improving is swiftly becoming a national pastime. Nearly one in six people (14%) claimed to have carried out home improvements just for fun

Commenting on the research findings Russell Galley, Head of Mainstream Mortgages, Halifax, said: "In the current market, homeowners can inject value into their homes by undertaking the right home improvements. Carrying out work on your home can be rewarding but costly to correct if not executed properly. Where appropriate, consult the professionals and seek any necessary planning permission before getting started."

Value Added?

One in six green-fingered home improvers estimated that their work in the garden, along with any other home improvements, would have added over £10,000 to the value of their property. However, for 14% of people, home improvements are less of an investment, and more of a hobby.

Who gets their hands dirty?

More home improvements are being done by homeowners themselves than in the past. Over a quarter of respondents (26%) got stuck into their home improvements and did all the work themselves. A further third did so alongside their partners (33%). However, tradesmen remain most people's first port of call with a third of respondents calling upon their services.

More than twice as many men (39%) than women (17%) claimed to have carried out work themselves.