Property bust leads to DIY boom
Posted by Sinks on 27th Jun 2017
More homeowners may turn to DIY home improvements to boost the value of their properties.A slump in the property market has boosted interest in DIY, according to Idealo.co.uk.Interest in home improvement goods has increased by 3,000 per cent since February 2010.The comparison site says the boost in DIY is due to falling house prices, with the average home now worth at least 10,000 less than in February 2008.Online searches for sinks increased by 219 per cent, which could mean homeowners are planning to upgrade kitchen sinks or sink accessories this year.David McLoughlin, manager at Idealo.co.uk, said The property market is at best sluggish and it seems people are making a conscious decision to improve what theyve got so that they can cash in when the slump ends.Sales of DIY tools and materials have also increased in the past year.Travis Perkins, owner of Wickes hardware store, has reported a revenue boost of 20 per cent in 2010, with pre-tax profits of 217 million.