The editor of a home renovation magazine has said he is "not surprised" about new research which shows that home improvement is growing in popularity.
A study showing that Britons are increasingly looking to improve their property is to be expected, according to the editor of a renovation publication.
Jason Orme, editor of Homebuilding Renovating Magazine, was commenting on a study by Sainsbury's which found that 425,000 home improvement loans worth a combined £4 billion were handed out last year. This was an increase of nearly a quarter compared with 2007.
Credit has been tight in recent times due to the worldwide crunch, with a Council of Mortgage Lenders report revealing this week that mortgage lending fell to a 35-year low in 2008. However, while the UK's continuing economic slump might mean people cannot change property, it will not affect their needs, according to Mr Orme.
"People's circumstances don't just stop because of the recession," he said. "People still have children and therefore need more space, but if they can't move then they have to improve."
He added that loft conversions were currently the most popular improvement people are making to their homes, as they are "slightly easier to do now due to planning regulations" and are also "easier and cheaper than building an extension".
Sainsbury's head of loans, Steven Baillie, also speculated that people could be building extensions so that their homes have a greater value when the market picks up.
