NHIC: Home improvement on hold because of the economic downturn

15 June 2011

Homeowners are delaying improvements to their homes because the economic downturn has left them strapped for cash, according to the National Home Improvement Council (NHIC).

With inflation continuing to rise, basic foods pricier than ever before and the cost of petrol still expensive, more and more people are delaying essential home improvements to cut costs.

Andrew Leech, director of NHIC, said that the economic downturn was making "lots of people drawn in their wings".

Mr Leech added that this was a difficult time for homeowners as home improvements could effectively lead to homes becoming more energy efficient, which would in turn save homeowners money.

The problem was that they couldn't afford to do that just yet.

His comments come on the back of recent research from Gocompare, which revealed that 32 per cent of British homeowners had put repair and renovation work on hold.

The NHIC represents companies and organisations that work in the home improvement sector.

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Posted by Fiona Mayers
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