Rising residential house prices are encouraging many homeowners to improve their property to try to add value to their home, says moneysupermarket.

The price comparison site found that 42% of homeowners have recently carried out home improvements to their property and are planning on doing more in the future to increase the selling potential of their home. Around 45% of people said they believed home improvements are solely undertaken to increase the value of a property, a further 35% claimed they carry out home improvements to improve the look of their home, with any extra value added coming as a bonus.
Louise Cuming, head of mortgages at Moneysupermarket, said: “With house prices having escalated dramatically over the past five years, along with the cost of stamp duty and mortgage fees, (higher costs for moving home), many people are turning to home improvements to add value to their homes.”