Britons are planning to spend £4.5bn on home improvements this Easter, according to research by the Co-operative Bank Mortgages. Londoners will splash out the most, with an estimated £200 to be spent on DIY during the holiday. Those in the north-east will spend a more conservative £116.
Many will be hoping for fine weather, as 18 per cent plan to update their garden. Other targets for improvements are the lounge, main bedroom and kitchen. The preferred activity for those sampled was painting, followed closely by gardening and buying new furnishings for the home.
The research also found that, for many people, difficulties in the property market are behind the decision to renovate. Over a third are looking to add value to their home and 28 per cent are making the improvements as they are unable to move. Other reasons include boredom (16 per cent), an expanding family (9 per cent) and attempts to make their home greener (13 per cent).
"With the slowdown in the property market, people are looking to add value and improve their living space," says Terry Jordan, head of mortgages at the Co-operative Bank.