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Britons invest £23 billion in home improvements

Thursday, 30 April 2009 9:25 AM

Research has found Brits invested £23 billion in home improvements over the last three months.

The findings from HomeServe discovered 130,000 households embarked on ambitious home renovation projects costing between £25,000 and £50,000.

HomeServe found the most popular home improvement was painting and decorating, with almost a third of us looking to take on the task. They also said factors driving the DIY craze were struggling sellers trying to upgrade their homes and trying to drive up the price of their property when house prices are at an all time low.

Jon Florsheim, CEO of HomeServe membership, said: "Many Britons are investing in their properties in an attempt to insure against falling property values. In a depressed market many homeowners are taking extra care to make their property stand out amongst their peers.

"Homeowners looking to ride out the depressed market are looking to improve their home, redecorating and investing in kitchen and bathroom upgrades to increase their enjoyment of the home."

Regionally householders living in the south-east were more likely to invest in painting and decorating, with people in Wales being the biggest investors, taking on large DIY jobs such as bathroom improvements.

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