Over 3m homeowners 'planning to move in the next year'

Over three million homeowners in the UK are planning to move over the next year, according to new research by Alliance & Leicester.

The study revealed that despite problems in financial markets, many people are hoping to make improvements to their properties in an effort to attract prospective buyers.

Just under 40 per cent of homeowners have made renovations specifically to increase the saleability of their property, while 19 per cent are expecting to do so over the next 12 months.

Richard Taylor, head of mortgage products at Alliance & Leicester, said: "Even within the current climate, there are still millions of people who are looking to move and they are doing all they can to get the best price for their property."

He added that home improvements also "remain important" to all property owners.

Alliance & Leicester''s research has been released after Jane Walmsley, area sales director at Your Move, claimed that installing a kitchen or bathroom can make a home more attractive to buyers.

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