Spending on DIY products has dropped to its lowest level in more than 15 years, research shows.

In 2011, residents spent £7.8 billion on the items, which is the lowest sum since records began in 1996 and equates to roughly £300 per household, according to a study by Lloyds TSB.

The amount also corresponds to nearly half of the £15.5 million spent at the peak in 2004.

Suren Thiru, Lloyds TSB housing economist, said: "Consumers have been experiencing the biggest squeeze on their discretionary income for over a year.

"Couple that with a very subdued housing market, and it is unsurprising that so many are cutting back on home improvements."

Despite the drop in spending on DIY, Anna-Marie DeSouza, editor of Build It + Home Improvement magazine, has advised that home improvements can bring many benefits for people's living experiences.

She recommended that a balance should be made between personal taste and value