DIY sales are taking a hammering as shoppers cut back on home improvement spending, analysis of Virgin Money Card data shows.
Home improvement spending was lower in 2008 in nine months of the year compared with 2007 with only January 2008 showing a substantial increase on the same month in 2007, according to the firm.

Spending on home improvements dropped by 10% in 2008 compared with the previous year, say Virgin.

And the slowdown in home improvement spending accelerated from September 2008 when the financial crisis really hit home - home improvement spending in the last 4 months of 2008 was 21 per cent lower than the same period last year.

The figures from Virgin Money confirm the slowdown in DIY spending as revealed by Homebase owner Home Retail Group which saw spending drop by 10.2% in the 18 weeks to January 3.

Grant Bather of Virgin Money, said: "Optimists might have hoped DIY and home improvement spending would hold up as homeowners concentrated on making their current home better even though they couldn't move house.

"The reality isn't quite as rosy - home improvement spending is suffering just as much as other luxury spending with massive drops in the last four months of 2008."