Britons could now spend almost a full day a week watching other people house-hunting and making home improvements, says mortgage adviser Clear Cut Mortgages. And notes the firm, the nation’s passion for ‘home TV’ has been matched by a threefold increase in mortgage lending over the decade.

The nation’s obsession with finding and creating their dream home has reached near epidemic proportions, indicated by the explosion in the number of hours devoted to property and home improvement programmes over the last ten years.

Research has been released by the mortgage adviser to show that TV viewers could have spent an average of 19 hours a week last year watching property and home improvement programmes. This compares with just 3 hours a week in 1998 and only 28 minutes a week in 1993.

The staggering increase in home TV reflects the growth in UK mortgage lending. In 1993, there was typically just one programme a week, with shows such as House Style or Raising the Roof hitting the screens. During that year, new mortgage lending for new purchases stood at £42.7 billion.

In 1998, demand for property programmes had increased to three programmes a week, with Hot Property, House Hunters and Changing Rooms making their debut as new mortgage lending for new purchases reached £63.5 billion.

In 2003, however, viewers had the choice of around 13 property shows each week, with Location Location Location, Carol Vorderman’s Better Homes and A Place in the Sun moving up the ratings. Last year, new mortgage lending for house purchase reached a staggering £122 billion.

Ben Thompson, director at Clear Cut Mortgages said, “Buying, moving and decorating homes has become a favourite national past-time, with the likes of Linda and Lawrence making weekly appearances in living rooms across the UK.”

But he adds a word of caution to budding property developers:

“Property improvements are now the third most common reason for taking out a loan, after debt consolidation and car purchases. These programmes are great for tips on how to add to the value of your property, but make sure you shop around or seek advice on the best way to finance your dream home. With interest rates on the rise, the key thing is to avoid biting off more than you can chew.”

One of the easiest ways to finance home improvements is to switch to a better mortgage rate, says the firm. “UK homeowners are apathetic when it comes to getting a good deal on their mortgage,” says Ben. “Over two thirds of UK homeowners didn’t re-mortgage in the last year, despite the fact that it could result in a saving of almost £2,000 a year in interest payments on a £100,000 loan - and that could pay for a lot of home improvement.”