Brits to improve, not move

British homeowners are choosing to improve their current home rather than move house in light of the unstable housing market, according to new research from insurance company LV.

The findings show that the average home improvement spend this year will be £5,249 as Brits look to improve their standard of living without moving house.

Almost 1.5 million new extensions are expected to be built over the next year and many of these will be in the shape of conservatories.

LV General Insurance spokesperson Emma Holyer said that Britain is a nation obsessed with its homes.

"Many homeowners told us they were spending this money so they could profit more on their homes when they do come to sell them after the market has stabilised," she said.

"This shows that although people are concerned about the short term housing market there does appear to be optimism in the long term."

The study found that 5.9 million will fit new flooring, while 4.7 million will look to improve the bathroom.