Since 1998 people have not spent as little on DIY as in 2010, according to the latest Lloyds TSB home maintenance survey. Only £352 per household were spent; a total of £9.5bn. This is a drastic fall compared to the £14.66bn expenditure in 2004, when DIY was at its highest.

 

Overall, expenditure on home maintenance (DIY and tradesmen's services) has fallen by 9% over the past year, from £17.8bn in 2009 to £16.2bn in 2010. Expenditure on tradesmen's services declined by 3% over the same period from £6.9bn to £6.7bn.

 

Suren Thiru, Lloyds TSB Housing Economist, commented:

"Spending on DIY has fallen significantly over the past year. The current squeeze on household finances from high inflation and weak earnings growth has made it difficult for many households to spend as much as they used to on discretionary items such as home maintenance. However, the benefits associated with maintaining or improving your property is likely to ensure that over the long term the popularity of DIY will remain enduring."