Just Stay Put and Do It Yourself; DIY: We Are Spending More on Our Homes

Western Mail (Cardiff, Wales), April 13, 2002 | Go to article overview

Just Stay Put and Do It Yourself; DIY: We Are Spending More on Our Homes


Byline: JOHN WILLIAMS

DIY has continued to soar through the winter months as intentions to move have steadily decreased, according to the latest findings from Alliance & Leicester's quarterly index.

Britons intend to spend an average of pounds 1,243 this quarter, up 65pc from pounds 752 a year ago while intentions to move have decreased from 9pc to 5pc over the same period.

Whilst industry commentators can't seem to reach agreement on the condition and future direction of the property market - the on-going DIY frenzy is clear evidence that Britons are continuing to invest record amounts of money in their homes.

This suggests that regardless of house price movement, Britons believe that investing in their homes will reap returns - even if this is in the longer term.

The latest A&L moving-improving index asked a representative sample of 4,000 people if they intended to carry out DIY during the next three months, and if so how much they are intending to spend:

DIY has continued to rise steadily over the past 12 months - with Britons spending an average of pounds 1,243 this quarter, up 65pc from pounds 752 a year ago;

For the past twelve months people's intentions to move have decreased from 9pc to 5pc, suggesting that while people may be staying put in these uncertain times, many still have enough faith in the housing market to invest further money in their own homes;

Across the nation, 49pc of people were planning DIY in the next three months. People in their 30s were most likely to be planning DIY (69pc) and are also intending to spend the most, an average of pounds 1,535. This is up 30pc on last quarter, with the 30somethings having overtaken people in their 40s who led the DIY charge over autumn 2001;

Specifically, men in their 30s were intending to carry out the most DIY with 70pc of this group planning to spend an average pounds 1,632. …

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