Over 1 in 10 homeowners ‘make improvements to increase property value’

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Over one in ten people have undertaken home improvements in order to increase their property’s value, according to new research.

The study by Liverpool Victoria (LV) found that 15 per cent of homeowners have undertaken DIY in order to make money when the housing market recovers from its recent falls.

It was also found that nearly 60 per cent of Britons have made home improvements in the past six months.

Emma Holyer, spokesperson for LV General Insurance, said: “Many homeowners told us they were spending this money so they could profit more on their homes when they do come to sell them after the market has stabilised.
“This shows that although people are concerned about the short term housing market there does appear to be optimism in the long term.”

Recent research by Alliance & Leicester found that over three million homeowners in the UK are planning to move in the next year.

The same study also found that 40 per cent of people have made renovations to increase the saleability of their homes.