Homeowners 'flashing the plastic' in DIY stores

New figures released today (September 19th) have shown that people are increasingly choosing to improve their homes and that the majority are funding their DIY addiction with credit or debit cards.

UK payments association Apacs revealed that £11.87 billion was spent on credit and debit cards in home improvements stores between August 2007 and July 2008, with each transaction showing an average spend of £51.87.

Although this could be positive news in that it indicates that Britons are choosing to invest in their homes to make the most of the current property situation, it could also be worrying, as it was found that a £5.3 billion was put onto credit cards.

Sandra Quinn, director of communications at Apacs, said: "Plastic cards are one of the most popular forms of payment in the UK and the last decade has seen a rapid rise in their popularity, with consumers enjoying the ease and convenience debit and credit cards bring."

Earlier this month, housing minister announced new measures which could allow those looking to add value to their property through an extension do so more easily.

As of October 1st, homeowners will no longer require planning permission to build loft conversions or extensions onto their homes, which could save time and money for thousands of people, the government said.