House owners 'looking to home improvements as alternative to moving'
Home owners are turning their hands to renovations and improvements rather than trying to move because of a shortage of properties in the housing market, research suggests.
Some 60% of owners say they are concentrating on transforming their current property into a ideal home because poor supply of housing stock is putting them off trying to move.
A survey of more than 2,000 people by online savings provider GE Capital suggested home owners estimated it would cost them £72,000 to create the home of their dreams.
Garden makeovers were found to be the canniest investment for those wanting to make money, with estate agents suggesting a revamp of outdoor spaces could bring potential returns of 250% on the cost of the work.
Other money-making improvements were new central heating systems, a new bathroom and a kitchen redesign, along with creating open-plan living and under-stair storage.