As concerns deepen over the ‘credit crunch’ and its effects on the UK housing market, home owners are turning in increasing numbers to home improvements rather than face trying to sell their homes.

According to the results of a recent survey commissioned by Home insurer LV=, “almost one million British households are ‘doing up’ their homes because the effects of the credit crunch are preventing them from moving.”

And of all the different types of home improvements either undertaken or planned in the next 12 months, a whopping 2.3 million (16%) of home owners are planning to install new windows.

The survey also showed that despite purse strings tightening in other areas, over half (57%) of all Brits have undertaken home improvements in the last 12 months or plan to complete them in the next six months.

With the average spend on home improvements estimated at over £5,000, the total cost of these renovations is projected to be over £4 billion.

A spokesperson for LV= Home Insurance, Emma Holyer said: “Despite the challenging housing market and lack of affordable mortgages, we are still a nation obsessed with our homes and what money we can make on them.”

She added, “Many homeowners told us they were spending this money so they could profit more on their homes when they do come to sell them after the market has stabilised. This shows that although people are concerned about the short term housing market there does appear to be optimism in the long term.”

If you’re one of the growing number of householders looking to invest in their property during these uncertain times, contact Brackenwood today on Freephone 0800 25 35 45 for friendly advice on the many benefits that replacing your windows and doors can bring.

And with the looming possibility of increased energy bills causing concern too, don’t forget to ask about our energy efficient windows and doors.

Figures obtained from a nationally representative online poll by www.opinium.co.uk.