Published on 13 - February - 2009

News

The current economic climate and depressed housing market are causing people to spend more on home improvements, according to the latest figures from Sainsbury's Finance.


The lender made an estimated 425,000 loans for home improvements in 2008 - a 53% increase on loans in part or wholly for home improvements compared with 2007.

Sainsbury's head of loans Steven Baillie said, "It is well-documented that the housing market struggled last year, and our figures might suggest that people have decided to stay put and make the most of their existing homes. It may also suggest, however, that they're trying to add value to their current homes in order to get a better price for them when the property market recovers."

Either way - it can only be good news for the sector!

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