An overwhelming majority (94%) of UK homeowners would rather spend money improving their current home than sell up and move on, suggests new research.
The survey of 1,000 people by Wooden Blinds Direct found that despite the recent reduction in stamp duty and rise in house prices, 49% of respondents plan to stay put and renovate in 2015, and are happy to spend on average over £5,500 doing so.

Only 6% cited their reason for renovation as selling their home this year.

Regionally, though, there are big differences in intention. Just 35% of Scottish homeowners are planning a renovation in 2015, with an average £4,600 spend. In contrast, south west homeowners plan to fork out an average of £10,400 for their extensions, decorating and other renovations.

The home improvement survey also found that Northern Ireland is set to have the biggest increase in home renovation during 2015, rising 173.5%, with Wales to have the biggest drop, falling 51.18%.

"The housing market is still volatile and that's reflected in the results of our survey," commented Wooden Blinds Direct marketing manager Lee Fisher. "People are more concerned with making the house they're in more comfortable than moving out. Whether that's by extending and building or even by simply redecorating rooms it's obviously a much cheaper alternative."