Middle Britain spends more on improvements

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Households in Middle Britain tend to spend a greater amount of money on home improvements such as conservatories or kitchen extensions than the rest of the country, it has been suggested.

Figures from financial services provider AXA Financial Task Force indicate that homes in Middle Britain spend a total of 6.5 per cent of their income – after tax and housing costs – on enhancing their property.

In contrast, the average British household spends 4.5 per cent of their wages – also after housing costs and taxes – on such investments.

The report suggested that to be considered a typical Middle Britain household in 2008, families must own their own property, have at least two cars and also live in London, the east of England or the south-east.

AXA states: "The term Middle Britain needs to be redefined as it does not represent middle income Britain and only applies to a significant minority of households – although the group as a whole is growing."

Meanwhile, the editor of Homebuilding & Renovating Magazine recently suggested that people are more likely to invest in property enhancements – such as conservatories – as a result of the uncertain economic environment."ADNFCR-1495-ID-18647359-ADNFCR"

 

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