DIY 'used to increase home value'

DIY is being used by homeowners to increase the value of their properties, according to a new study.

Research by Halifax found that around a quarter of people are planning to make improvements to boost their home''s price, with 44 per cent hoping their efforts will add £5,000 to their property''s value.

Around 12 per cent believe their work will lead to a rise of between £10,000 and £25,000 on their home''s price.

Popular home improvements include redecorating, garden improvements and the installation of new furnishings.

Russell Galley, head of mainstream mortgages at Halifax, said: "In the current market, homeowners can inject value into their homes by undertaking the right home improvements.

"Carrying out work on your home can be rewarding but costly to correct if not executed properly."

Previous research by Halifax found that the standardised average price of a home in the UK stood at £191,556 in March.

It also revealed that house prices fell by 2.5 per cent in the same month.

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