Brits plan to improve rather than move
The majority of homeowners do not intend to move home, according to data from CreditExpert.co.uk.
Furthermore, those people who own their properties are more likely to make improvements to their homes – such as installing conservatories – than change their place of residence, the credit report monitoring service notes.
Nearly a third (31 per cent) of younger homeowners – between the ages of 25 and 34 – who plan to stay where they are intend to carry out major home improvements.
Darryl Bowman, director of the firm, states: "Its understandable that people are feeling that home-ownership is out of their grasp or that they should be ploughing money into home improvements rather than moving."
He attributes such concerns to cautious attitudes towards the current credit climate.
In related news, insurance provider esure recently advised consumers to make sure that they have buildings insurance – which includes conservatories – in light of the recent earthquake.