Cost-of-living pressures forcing homeowners to stall 'big life plans'

Billy Shannon of Aviva Insurance, for whom the survey was carried out, said: “Many people simply do not feel comfortable with starting the next chapter of their lives possibly out of fear that they won’t have the finances available to support themselves in the future.” File photo

Nearly half of homeowners are putting off “big life plans” due to the cost of living as they do not know “when the storm will pass”.

A new survey of 1,000 people also found that more than 80% of homeowners are shelving home-improvement plans as inflation continues to bite. People aged 45-54 are most likely (54%) to delay their plans due to inflation and the uncertainty it is bringing.