DIY TV shows drive £23bn boom

By Standard Reporter Last updated at 00:00am on 18.09.02

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Homeowners are increasingly opting to do home improvements rather than move house, research claims today.

Market analyst Datamonitor said the lowest loan rates since the Sixties plus popular DIY TV shows were driving a boom. During the first six months of 2002, it said, the number of home improvement planning applications rose 11 per cent.

The UK DIY market was worth more than £23 billion in 2001 with each household spending an average of £900 on DIY. Britons took out £13.6 billion in loans for home projects, and that is expected to rise to £17.6 billion by 2006.

Report author Edward Ripley said: "Rapidly increasing house prices have been partially responsible, increasing homeowners' confidence to undertake expensive projects and reduci