It may seem like many first time buyers face a difficult enough task in simply being able to purchase their first home, but many have long-term plans of renovation and investment, a study from Halifax has suggested.

Research from the lender has found that more than two thirds of 18 to 34-year-olds are making home improvements, with Halifax suggesting that this is all part of a bigger plan of adding value and selling on.

With house prices rising all the time as well, it becomes apparent why many buyers are seeing property as an investment, and furthermore one that may be worth initially overstretching on.

"Our research shows that Britain has become a nation of movers and improvers," commented Patrick Sawdon from Halifax Valuers.

"It's great to see that so many people are investing time and effort in improving their home.  A word of caution though, poorly executed home improvements can actually detract from the value of your property," Mr Sawdon added.