1 in 4 'look to DIY to increase property value'
Published on : 27/05/2008
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Around a quarter of homeowners in the UK are planning to make improvements to their property to increase its value, according to new research.
The study by Halifax found that 44 per cent of such people hope their DIY will add around £5,000 to their home's value, while 12 per cent believe it will rise by between £10,000 and £25,000.
Home improvements most favoured by property owners include redecorating, garden improvements and the purchase of new furnishings.
One in five is also interested in making eco-friendly improvements to their homes.
Russell Galley, head of mainstream mortgages at Halifax, said: "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."
At the start of April, research by Halifax found that house prices fell by 2.5 per cent in March, with the standard average house price in the UK standing at £191,556.
