More cash is splashed on DIY

Monday, June 14th 2010

Homeowners are becoming more conscious of the state of their properties and are increasingly getting the tools out to do a spot of DIY.

According to research by Halifax, 56 per cent of those with a mortgage are carrying out improvements to their house and they are also spending £1,000 more on average than they did last year.

Of those making over their home, a typical £6,362 of household finance has been set aside for adding a lick of paint or putting up wallpaper in the last 12 months, with garden DIY also becoming a big hit with the good weather.

Stephen Noakes, commercial director at Lloyds Banking Group, said: "Our research shows that more and more homeowners are picking up their brushes and paint and using their creativity to improve their surroundings."

A recent report from the Post Office showed that nine out of ten football fans will be staying in to watch World Cup matches over the next month in order to save money.

However, many plan to splash out on items to make the most of this experience, such as spending money on an LED or plasma television.