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Average home improvement 'costs £1,162'

The average cost of home improvements has risen by 2.97 per cent in the past two years, according to researchNew research has revealed that the average cost of home improvements or alterations has risen slightly in the past two years.The cost of home improvement or alteration work on a property has risen slightly in the past two years, according to research by Sainsbury's Home Insurance.

Analysis of industry data from the firm has revealed that the cost of such work has risen 2.97 per cent in the past two years to an average of £1,162.

However, the rise was found to be one of the smallest in terms of running a property, with cost of gas and water increasing by 25 per cent and 9.62 per cent respectively over the period.

Joanne Mallon, Sainsbury's Home Insurance manager, said the study highlighted how we "spend thousands of pounds each year running our homes and have often invested even more money on furnishings and decorating".

The release of the findings has come after Jason Orme, editor of Homebuilding & Renovating magazine, claimed renovations are "a really easy way" for firms to up the value of their property.
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Article Added: 18/06/2009 11:04:28
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