With the property market still in the doldrums enterprising British householders are rushing out to pick up?home improvement items in an attempt to boost the value of their homes, according to new research published today.
Price comparison website Idealo.co.uk reports a surge of interest in the kinds of things that lend instant value to property makeovers,?including greenhouses (up?2,787 per cent compared with February 2010) ladders (up 480 percent over the same period) and power drills (up 96 percent). Idealo says its data ? based on the number of consumers searching for particular items on its comparison engine ? also shows massive interest in tool boxes, which has leapt 2,750 percent since 2010, and pressure washers, which saw a 236 percent increase in enquiries this week.
The company attributes the demand growth to falling house prices, citing figures from the?FT House Price Index?showing that the average price of a UK home has fallen at least ?10,000 since February 2008. Homeowners, it says, appear to be putting hard graft in to maintaining the value of their properties through DIY home improvements.
?Home improvement products always start to pick up when spring sets in but the scale of the annual increases we?re seeing now point to a different story this time,? said David McLoughlin, manager at Idealo.co.uk. ?The property market is at best sluggish and it seems people are making a conscious decision to improve what they?ve got so that they can cash in when the slump ends. This mood is certainly reflected in the trends that we?re seeing on the site.?
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