We are still a nation of home improvers.  Research by two banks have highlighted our continuing desire to ‘do up' properties in the hope of adding style and value.

The Yorkshire Bank says that over half (52 per cent) of home buyers would be happy to buy a home in need of repairs and almost as many (42 per cent) would be actively put off by a period home that had been overdeveloped and lacked original features or period charm.

The research also suggested that bargain period properties are more popular than ready-made modern homes, despite the fact that many buyers (42 per cent) accept that older properties can be a financial gamble.  Gary Lumby, Yorkshire Bank's head of retail, attributed the finding to the desire of buyers to pick up a bargain home.  He said: "It seems housebuyers are on the lookout for a bargain and will take on relatively major renovation work, such as replacing a roof or rewiring, if it helps them to secure their dream home for a more affordable price".

But not all buyers will take on the burden of building work. Busy young professionals are most likely to look for a ready-made home, with 69 per cent of respondents in their twenties saying a new build with no work needed would be top of their property wish list.

While the Yorkshire attributed the demand for homes in need of repair to bargain hunting buyers, the Halifax unveiled research which said that many buyers were aiming to add value to their home.

The research, part of the annual Halifax Home Improvement Survey, revealed that over a quarter of homeowners (28 per cent) plan to improve their home this year specifically to add value.  Nearly half of these think that they will boost the price of their home by £5,000 and one in ten believe that they will add between £10,000 to £25,000 to its value.

The Most popular home improvements were relatively simple such as redecorating (71 per cent); garden improvements (35 per cent); and new carpets (25 per cent).  But others were more ambitious planning to change their flooring or install a new bathroom.

Interestingly, first time buyers and younger buyers are becoming more and more involved in home improvements with almost three quarters (74 per cent) claiming to have carried out home improvements in the last twelve months, up from two-thirds (68 per cent) last year.