More homeowners are using experts to improve their homes, rather than attempt to carry out the work themselves, according to the latest figures.
Total spending by UK households on DIY has fallen to its lowest level since 1998, according to new research by Lloyds TSB.
Household expenditure on DIY totalled £9.5 billion in 2010, equivalent to an average outlay of £352 per household: a fall of 13 per cent in real terms (i.e. after allowing for inflation) from the £10.9 billion spent in 2009.
Suren Thiru, Lloyds TSB Housing Economist, commented: “Spending on DIY has fallen significantly over the past year. The current squeeze on household finances from high inflation and weak earnings growth has made it difficult for many households to spend as much as they used to on discretionary items such as home maintenance. However, the benefits associated with maintaining or improving your property is likely to ensure that over the long term the popularity of DIY will remain enduring.”
