/24-7PressRelease/ - LONDON, UK, June 25, 2006 - According to Capital One Homeowner loans, people in the UK have made up their mind to invest around 116.9 billion on their homes in next one year. A research conducted by the credit card company suggested that the main reason for this disbursement is to improve property value; investors believe that they can add 10,000 to the price of their home.
According to Capital One Homeowner loans, people in the UK are prepared to make a substantial investment of 116.9 billion on their homes in the next twelve months. Research by the credit card company suggested that main reason for these expenses is to add value to the property, while people have firm believe that they can add 10,000 to the price of their home. Citizens in the midlands are expected to invest more towards home improvements, with four million people are planning to invest an average of 8,911 each on their possessions.
Research also suggested that people in Scotland are likely to spend minimum over the next year, with less than two million household investing an average of 4,293 from their savings. Justin Basini of Capital One Homeowner Loans said that so many people were planning to improve their existing house instead of moving because of ambiguity over rising rates and stamp duty. He further added that since most of this capital would be funded through credit, so it was necessary that people should shop around for reasonable rates.
The average amount of money that would be spent per person on property is anticipated to be 5,478. because of poor weather in May was said to be one of the reason of the slowdown in the market, B&Q and other home improvement stores have reported low DIY sales this year, this was not in line with Capital One's research.
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