The amount of money people intend to spend on DIY over the next three months has fallen
for the second quarter in a row, Alliance & Leicester's movingimproving index has found.
On average, Britons expect to spend £1,119 this autumn on DIY, 3% less than in the second quarter of this year (£1,151). This is only the second time average intended DIY spend has fallen in two years. Painting and decorating continues to be the most popular form of DIY people are planning to undertake.
These findings come at a time when homebuyer confidence has fallen to its lowest level since peaking in Winter 2000, with only 11% of the population now planning to move within the next two years (compared to 15% a year ago).
Alliance & Leicester's quarterly movingimproving index asked a GB representative sample of 4,000 people how much they would be spending on DIY over the next three months and which home improvements they intend to carry out.
The survey found that 48% of people are planning to take on a DIY project over the next three months. This is similar to last quarter when 47% were planning to undertake DIY, but planned overall spend is down. People in their 30s are the most likely to be carrying out DIY (64%) and are intending to spend an average of £1,314 each, far higher than the national average but 8% less than last quarter (£1,427). Only 34% of people aged 60+ plan to spend money on DIY.
Paul Cooper, head of mortgages at Alliance & Leicester, says: “Although this is the second successive quarter that intended DIY spend has fallen, Britons are still planning on spending significant sums on their properties. Despite overall spend being down, more people are planning to improve their homes, even if it's just a lick of paint or improving the garden.”