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Tuesday 12th June 2007
British homeowners are embracing DIY and successfully increasing the value of their properties, new research has found.
According to a study undertaken by Halifax, 58 per cent of homeowners have undertaken some kind of home improvement project over the past year, an increase of 12 per cent on the previous year.
On average, Britons are adding £5,000 to the value of their properties, with half of those who have carried out improvements having spent less than £2,500 on such work.
Commenting on the trend, Phil Jenkins, head of mortgages at Halifax, said: "Home improvements are becoming more popular with people looking to add value to their home and improve saleability.
"Whilst DIYers continue to favour the more simple home improvements, such as redecorating, there are also signs that people are beginning to view their gardens as an extension of their home and are investing more time and money in improving the outdoors as well as the indoors," he added.
In addition to the financial benefits of home improvements, the study also found that increasing numbers of homeowners are undertaking projects to make their properties more environmentally friendly, with the issue of climate change growing as a priority.
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