Economic fears make homeowners wary of improvements

The remaining 41% said the potential for interest rate increases worried them more, and – as a result – would put their property updating plans on hold.

William Davies, managing director at aspect.co.uk, said: "This of course is only a small sample of our 20,000-strong client database, but I’d suggest that it does reflect the sentiment of many of today’s homeowners.

"However, we are still seeing large numbers of people who are making improvements to their properties – particularly those who have decided to improve as opposed to move in the current climate.

"We are seeing a real trend for increasing space in the home, whether through adding wet rooms, bathrooms, loft and basement conversions.

"For those who are holding off on property improvements due to ongoing concerns about the economy, they are spending, but only on what they really need to – for necessary boiler repairs, and property maintenance, for example."

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