Brits get set for DIY spending spree

Brits are splashing out on a record DIY spending spree by giving their homes a spring facelift.
The average homeowner intends to spend a record £1,501 improving their property this quarter, according to Alliance & Leicester Mortgages movingimproving index.

This is 5% more than last quarter and 21% more than this time last year.

But many are likely to stop short of the bigger projects such as kitchens or bathrooms, instead opting for a quick fix in the form of a lick of paint or new curtains and carpets – possibly in time for spring which is the traditional homebuying season.

Just under 30% will renew carpets, curtains or furniture while nearly one in five will give their homes a coat of paint.

Stephen Leonard, director of mortgages at Alliance & Leicester, says: "What is interesting with our latest findings is that while people are preparing to invest money on their homes, it seems they are acting shrewdly by opting to spend more on cosmetic or outward appearances rather than undertaking costly improvements, such as new kitchens or bathrooms.

"Some are likely to see the results of their home improvements as an attraction for potential buyers as we enter the traditional homebuying season."

Alliance & Leicester’s movingimproving index, which monitors quarterly DIY intentions, shows that only 14% of people are likely to undertake costly DIY tasks this quarter such as fitting a new bathroom or kitchen, compared to 15% in the last quarter

Couples intend to spend 57% more than singletons on sprucing up their homes, £1,697 compared to £1,083.