The UK's homeowners are investing a large proportion of their houses' value in home improvements, according to new research.

In a survey carried out by renovation specialist Architect Your Home, it was suggested that individuals shell out on home improvements in a bid to avoid the 'dead money' - such as stamp duty and legal fees - associated with moving.

Hugo Tugman, the founder of the firm, explained that the growing range of 'home makeover' programmes on television, as well as the influence of friends of neighbours, has led to a "national obsession" with home improvements.

Mr Tugman went on to claim that his organisation's research had found that over a third of UK homeowners spend between £20,000 and £40,000 on renovations.

He suggested that soaring house prices are another contributing factor to Britons' increased sense of pride and value regarding their homes.

Residents in Northern Ireland were recently given an extra incentive to invest in home improvements, as the country's Ulster Bank decided to trial a new 'solar mortgage', offering discounts to people who install solar panels.

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Author:  Joanne McCabe

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