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According to research by Halifax, more than half the population has undertaken some form of home improvements over the past 12 months, which is an increase of 12% on last year's figures.
The main motivation for home improvements were adding value to the home, with a quarter of people citing this as the reason, compared with just 7% who responded to the Halifax survey last year. Likewise, more people are seeking to increase saleability of their property through home improvements; 16% compared with just 2% last year. Redecorating is still the nation's most popular home improvement, with garden improvements and re-vamping the kitchen also popular.
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."
READ MORE: Home improvements and finding funding
06 July 2007 © Moneyextra.com
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