More people considering home improvements

Due to the slowing housing market, many homeowners will look to make better use of the space they currently have, according to the Federation of Master Builders (FMB).

Brian Berry, director of external affairs at the trade association explains that improvements may well include the installation of a conservatory or the creation of a garage or loft conversion.

He adds that such additions to a home are a popular choice for consumers "because they give you that whole extra room on the ground floor, and theyre relatively easy to do".

Mr Berry explains that at the top end of the housing market – especially in areas such as central London – the installations are becoming very popular as they are the only way in which extra living room can be created, adding that they provide a "huge" expanse of space.

In related news, recent data from credit monitoring service suggested that the majority of homeowners would rather improve their existing property than move to a new home.