According to Yorkshire Bank's quarterly Housebuyers Report, just 5% of those surveyed plan to move home this year with many choosing to improve their current home instead.
The research also revealed that Brits are taking a prudent approach to their improvements with over 61% of those surveyed planning to do their own home improvements rather than hiring in professionals.
Even homeowners who have previously relied on the qualified workmen are now planning to undertake the work themselves with 10% now opting for the ‘Do It Yourself' option.
However, Yorkshire Bank has a word of warning for those about to embark on a DIY project with the research also revealing that 15% of DIY projects can take months to complete with 8% never getting finished at all.
A further 13% of people surveyed said they underestimated the cost of their DIY with 11% admitting they had to either redo a DIY job or hire in a tradesmen to repair the damage.
Gary Lumby, Yorkshire Bank's Head of Retail, said: "Easter is the start of the DIY season as people start to repair and renovate their homes for the summer. However it would seem that in the current economic climate, it would seem many homeowners are planning on saving cash by putting in some hard graft themselves".
