A massive £17bn will be spent on home improvements this summer as
growing numbers of property owners take up DIY, according to research by
Alliance & Leicester.
The bank's movingimproving survey of 4,000 homeowners found the average
intended household spend on DIY for the next few months has risen by 23 per
cent to £981 from £558 in the spring.
This leap marks the third consecutive quarter that anticipated spending on
home improvements has risen. The bank found almost one in five people plan
to spend more than £1,000 on home improvements over the next three
months – up by 15 per cent in the past nine months.
A&L found the boom to be driven by single women in their 30s, who are
spending more than men of any age on DIY. Women intend to pay out up to
£1,433 over the summer months compared with up to £1,286 for men.
Head of mortgages and insurance Tim Hague says: “The findings highlight
the growth we have witnessed in DIY across the UK continues at an
accelerated pace and we judge this to be a public vote of confidence in the