About a quarter of those who have renovated their property over the past year, including those who have taken out a home improvement loan, aim to add at least £5,000 on the value of their house, new figures indicate.

According to a study conducted by Halifax, some 58 per cent of consumers have carried out home improvements over the last 12 months - a rise of 12 per cent from last year.

Head of mortgages Phil Jenks said: "Home improvements are becoming more popular with people looking to add value to their home and improve saleability."

Meanwhile, 17 per cent cited reducing their energy bills as a reason for carrying out DIY, which in turn may help them with debt management and making personal loan repayments.

The research also revealed that 16 per cent of consumers are looking to make their home more attractive to buyers through home improvements, up from two per cent from 2006.

Last month, research by moneysupermarket.com revealed about two in five Britons take out a home improvement loan or pursue another avenue of borrowing to finance a renovation project.

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