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More than two thirds of London’s homeowners plan to refurbish

In contrast to this, 24 percent of those surveyed have no intentions of undertaking property refurbishment work, as they do not want to spend money in the current climate.

On a more positive note, 14 percent of those polled do have plans to sell their property in the next year, and intend to refurbish to a high standard, in order to help facilitate a sale.

Commenting on the survey findings, William Davies, managing director at Aspect Maintenance, said: “The recession has had an enormous impact on the property sector, which includes the effect it has had on property maintenance and refurbishment firms operating within it.

“Whilst it’s positive to see that homeowners plan to upgrade their properties, this seems to be purely down to the reason that they can not envisage the market picking up enough to warrant a property move in the next 12 months. They are therefore spending money and updating their homes.

“I did find it alarming that 24 percent of those polled do not intend to update their properties. It is imperative for homeowners to undertake regular property health checks. This will prevent unnecessary breakdowns, and will also help to avoid more major problems later on down the line. If you are a property owner, then don’t delay the inevitable; being prudent now is likely to save you money in the long-term.

“At Aspect Maintenance we are seeing clients spending on their homes. And, this year, has seen record numbers of property refurbishments. This reinforces the 70 percent finding that homeowners do not plan to move in the next year.”

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[1] 107 Aspect customers polled on the theme of property refurbishment, October 2009