A third (33 per cent) of homeowners are delaying their move due to rising mortgage rates, opting instead to extend, refurbish or completely improve their existing home.

This could mean an increase in demand for plumbers, electricians, builders and other tradesmen in the coming months.

Andy Simms of MyBuilder.com says: Demand for builders, electricians, plumbers, carpenters and other tradesmen has been high for some time and this new research suggests that demand for tradesmen in the UK is now likely to outstrip supply even more.

For example, waiting lists of a year or more for certain construction labourers are already commonplace, and our data suggests that the situation could be getting worse.

We would advise any homeowner considering a home improvement to book well in advance to ensure they get their preferred tradesman. We expect an influx of more jobs than ever before in early 2024, so don't delay.

Regionally, those who agreed that the situation made them more likely to improve their current home were 45 per cent in Cardiff, 38 per cent in Manchester, 34 per cent in both Bristol and Belfast, 35 per cent in London, 31 per cent in Birmingham, 26 per cent in Edinburgh and the lowest in Leeds at 17 per cent.