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Women will spend over £29 billion on home improvements

(Source: Sainsburys Bank)

Doing up your home is now mainly in the hands of women, according to research

Women are now leading the way when it comes to home renovation. Around 6.28 million women have home improvements work worth an estimated £29.29 billion planned for between now and the end of July, according to new research from Sainsburys Bank.

This compares to the figure of just over five million men who intend to spend £27.53 billion on improving their homes during the same period. And the averages spend per DIY project taking into account both men and women amount to £5,041.

Yet despite the popularity of home improvements it has still seen a dip compared to previous times. In total, people intend to spend £57 billion on improving their homes over the next six months. This is a great deal down from the £80 billion they planned to spend during the period of June 2004 and December 2004.

Of the £57 billion that will be spent on home improvements, £4.04 billion of this will be financed through personal loans. And in total, £13.9 billion of planned home improvement cash over the next six months will be financed through credit and borrowing.

Please note that this information does not constitute regulated financial advice, which recommends a course of action based upon the specifics of your personal circumstances. The information is purely intended to provide you with general information only. You should consult an Independent Financial/Mortgage Adviser (IFA) before making any important decisions about your finances.

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