DIY Is Back In Favour
Britons are sprucing up their homes once again after years of holding back on home improvements.
A study has shown that homeowners are once again spending money on furniture and home improvements.
Spending on credit and debit cards grew at its fastest pace for three years. Spending in furniture shops rose by 7.4 per cent – the fastest pace since 2012 – while purchases in home improvement stores grew by 5.2 per cent.
Low inflation coupled with an improving economy and better pay rises means people are willing to splash out on items like sofas and dining room furniture, or on painting and extending their home.
Barclaycard, have said: ‘After a prolonged period of strained household budgets, consumers are making the most of the favourable economic conditions and enjoying the increase in their purchasing power.
Low inflation is helping to boost consumer confidence and people are starting to make some of those home improvements that they were previously putting off.
It comes as a report by The Royal Institution of Chartered Surveyors (RICS) found the lack of decent family houses for sale meant people were opting to mend or extend their current homes.
High stamp duty fees – despite reforms last year to reduce the cost – have made ‘renovation and extension works more financially appealing than changing home.
“So come along to Greengates Builders Merchants Accrington, Lancashire for all your DIY needs and we will be only to pleased to help you make the right choices to do up your home”.