The preference for smaller scale, lower cost home improvement projects such as decorating; upgrading home furnishings and garden projects are expected to remain popular throughout 2010, according to the latest report published by AMA Research.
In the short-term, consumers are likely to undertake DIY tasks themselves rather than get someone in.
The UK DIY multiples market was worth just over £7bn in 2009, a rise of under 1% since 2008, and 3% less than it was back in 2003.
Factors such as falling house prices, low consumer confidence and a low level of house moves have particularly affected 'big ticket' items such as kitchen and bathroom installations.
Consumer spending has fallen with many focusing on saving or repaying debts and mortgages while interest rates have been at historically low levels.
A survey conducted by Ratedpeople.com compares January 2010 with the same period a year ago. The research suggests that homeowners are carrying out more home improvements. The research also found that home improvers are undertaking particular home improvement projects with the figures for Loft Conversion Projects up 16% and Windows & Conservatory Projects up 32%. There is also increasing demand for some smaller projects like Flooring Specialists (+9%) and carpenters (+10%).
Here at Greengates Builders Merchants Accrington, Lancashire we feel that home improvements are a good way to increase the market value of houses. We also feel that if you want to move but are unable to financially follow through with such a move that home improvements are a good way to give your old home a new lease of life.