Mortgage lending down again
Those considering whether to move or improve may be interested to hear that mortgage lending fell again in February.
New figures from the Council of Mortgage Lenders (CML) show that total lending in February was £9.9 billion.
This represents a 60 per cent year-on year drop and a £1.6 billion fall compared to Januarys figures.
Furthermore, the state of the market was underlined by the fact that it is the lowest monthly amount to be lent since February 2001.
CML director general Michael Coogan explained that a lack of funding for mortgage lenders was constraining the market.
"There are now fewer active lenders in the market, but the government wants them to lend more," he said.
With such a stagnant market, some homeowners may decide to try to increase the value of their home by adding a glazed kitchen extension or bespoke conservatory.
At the beginning of this month, CML claimed the Bank of Englands decision to cut the base rate of interest would make things more difficult for mortgage lenders as it would restrict their ability to offer good deals to savers.