Did you spend the bank holiday weekend with a hammer in your hand, making countless trips to B&Q and cursing the barbecue’s failure to light? If so, you weren’t alone. New research by Lloyds Bank has revealed that DIY spending has reached its highest level since 2008.
Nearly ten years on from the financial crisis, confidence has returned to housing market. Although putting up a shelf or mowing the lawn may not seem like an economic indicator, experts say that an upsurge in home improvements is good news.
Andrew Mason, Lloyds Bank mortgage products director, said: ‘Taking a DIY approach to home improvements helps cut costs and provides homeowners with the opportunity to put their own distinctive stamp on their property.
‘Although we’re not quite back to the spending heights of about a decade ago, these latest figures do show sustained growth in home improvement spending over the past seven years.
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