Home improvements to be undertaken by one-quarter of all homeowners: report

Around 28 per cent of homeowners will commence home improvement operations within the next few years, new research has shown.

Those that do undertake improvements will be doing so thinking that they can add thousands of pounds on to the value of their property, according to the Halifax Home Improvement Survey.

Over 40 per cent of those surveyed believe that the alterations they make to their existing property will add up to £5,000 to the value of their dwelling.

A further 12 per cent said that the modifications to the home will bump up the asking price by between £10,000 and £25,000.

According to Motley Fool, citing the Property Makeover Price Guide, a new kitchen will push up a property value by just under £5,000 while a more drastic extension could add over £13,500 to the worth of a typical home.

This week Nationwide claimed that the price of a typical house has fallen by over ten per cent in the last year to £164,654.