Home enhancements should offset price falls

Investing in home improvements – such as a conservatory – should offset any potential price falls, Homebuilding & Renovating Magazine has asserted.

Jason Orme, editor of the publication, explained in recent days that the current economic climate means that it is now a "very good" time to be adding additional space – and value – to a property.

He adds that homeowners will be "absolutely" able to afford home improvements.

"If anything, now is a better time than over the past couple of years. Now is as good a time as any to do that," Mr Orme continues.

Concluding, he suggests that the current market feeling is that if the property market continues to suffer "traumas" over the next year or so then the price of raw materials will become more competitive.

Figures from financial services provider Zurich Insurance recently suggested that homeowners spent £1.5 billion over the course of 2007 to fix DIY work which had gone wrong.