As a result potential house buyers have become far more cautious as they wait and see what effect interest rate rises will have on household finances.

In the meantime owners should not assume that any money spent on improving their home will increase the value of their property, especially if house prices continue to falter.

Rather than taking on the burden of extra borrowing to fund any work, such as loft extensions, it’s advisable to pay for any improvements out of savings, unless you have substantial equity in your house and a low mortgage.

A recent Abbey report found that the best home improvements, in terms of recouping your investment, were mainly cosmetic, such as a lick of paint.

One sensible improvement for the planet and your purse strings would be to change your boiler to a high efficiency boiler.

Compared to traditional boilers these can save you, on average, between £190 and £240 a year, which can make a massive difference to your bills over 15 years (the current average boiler lifespan).

Aside from that, when the housing market is eventually on the up (fingers crossed!), you’ll be in a great position against other properties in the market when potential buyers compare your energy performance certificate, a compulsory document in the home information pack.

We’re also fans of saving money which is why we’re constantly raving about high efficiency condensing boilers, which could save you as much as £270 a year on your heating bills.

Did you know that there may be grants and offers available in your area to help you install an energy efficient heating system?

The Energy Saving Trust has a search facility on the website www.energysavingtrust.org.uk to check whether there are any such grants or offers in your area. As well as heating, it also provides details for offers on cavity wall insulation, loft insulation and draught proofing and general appliances.

Alternatively if you’d prefer, why not contact your local Energy Saving Trust advice centre on 0800 512 012.

How do high efficiency condensing boilers work?

If you haven’t already heard, a high efficiency condensing boiler works on the principle of recovering as much as possible of the heat which is normally wasted from the flue of a conventional (non-condensing) boiler. The best high efficiency condensing boilers convert more than 90% of the energy it consumes into useful energy , compared to just 78% for conventional types.

Nowadays all new boilers must be high efficiency – all Glow-worm boilers are SEDBUK A or B rated. This means that, based on the Government’s rating of energy efficiency, all Glow-worm boilers are at the top of the scale. So you can be confident that investing in a Glow-worm boiler can help to save money and reduce your impact on the environment by using less energy.

We’ve all heard about switching to energy saving light bulbs but we’ve also got some more tips, this time courtesy of the Carbon Trust:

• Make sure that you measure how much energy you’re using – Unless you know what you’re paying, you won’t know what impact the changes make. Keep track of your bills and how they change when you introduce any energy saving tips.

• Don’t turn up the heating unless you really need to – Try to keep your thermostat at 19°C. According to the Carbon Trust your heating costs will go up by 8% each time you increase the temperature by just one degree

• Leave plenty of space around radiators – Putting furniture in front of a radiator means it will need to work harder to heat the room.

• Reduce energy losses in the home by ensuring that you have adequate insulation and fix costly leaks found on pipework.

And it’s not just at home where you can save on energy – the RAC shows us that by employing a few key driving techniques, you can reduce your vehicle’s fuel consumption, save money and do your bit to help the environment.

• Use your gears wisely – Driving in the highest gear you can, without labouring the engine, is a more fuel efficient way of driving. It is estimated that a vehicle travelling at a speed of 37mph in third gear uses 25% more fuel than when at the same speed in fifth gear.

• Drive more smoothly – Think ahead and, by applying light throttle and avoiding heavy braking, you will reduce your vehicle’s overall fuel use and at the same time reduce wear and tear. Research suggests that driving techniques can influence fuel efficiency by as much as 30%.

• Switch off your engine – Whenever it is safe to do so, switch off your engine, especially when stuck in traffic for more than a few minutes. If you have air conditioning think before you use it. Not using it will reduce fuel consumption and ultimately save you money.

• Drive off as soon as you can – Don’t leave your engine running when you first start up. Drive off straight away if you can but drive gently until the engine has reached its normal operating temperature.