B&Q owner cashes in as Britons improve homes rather than move

B&Q owner Kingfisher says that while people are moving less because of the cost of living crisis, they are spending more on sprucing up their homes. Photograph: Paul Faith/PA

British consumers are continuing to spend on improving their homes and gardens as an alternative to moving home amid soaring mortgage rates and a surge in household bills, according to the owner of B&Q and Screwfix.

Sales at Kingfisher’s UK and Irish business rose 1.7% in the six months to the end of July as homeowners bought 11% more insulation materials at B&Q in an attempt to offset winter heating bills and were also revamping bathrooms and gardens.