The DIY market is expected to grow faster than every retail sector other than electricals over the next five years.
At present,£1 in every£12 of non-food expenditure goes on DIY products, according to researcher Verdict's Focus Wickes DIY Monitor. It is predicted that the market will grow by more than 28 per cent in the next five years, from£12.5 billion to£16 billion.
Electricals is expected to increase by 31.3 per cent to£28 billion over the same period, as the boom in digital technology gathers pace.
Last year, spend per head on DIY products increased by 4.4 per cent to£257. The figure is expected to rise to£319 by 2008.
Verdict chairman Richard Hyman said that the DIY industry is changing from needs- to wants-driven as consumers follow the latest trends in furnishing and home fashion.
He said: 'That's the central source for the growth. Home improvement is much more about fashion and lifestyle. It suggests that the DIY market is far less cyclical than we first thought.
'Consumers know that the housing market is going to ebb and flow, but still see the home as a place to invest money in,' he explained.
Hyman added that 67 per cent of the 1,500-strong sample said they intend to spend more money on DIY products in the future. Some 62 per cent said they prefer to invest money in their present home than to move.