The housing market slowdown is affecting the perceived value of property and leading some homeowners to cut back on planned DIY work, but for others it is a spur to wholesale renovation of areas such as the kitchen, it was claimed.The Federation of Master Builders (FMB) explained that the greatest effect of the slowdown was a deferral of plans to move house meaning that many people would instead choose to embark on home improvement projects for their existing properties.In a recent State of Trade Survey from the FMB, four out of ten respondents reported a drop in enquiries for construction work, suggesting that household investments and energies were instead being channelled into DIY home improvements.Brian Berry, director of external affairs for the FMB, said that some would be putting off all investments as they worried about the falling value of their home, but drew a notable exception.There will be other people who want to move on but are deterred from selling their property because of the falling property prices. They will actually then think about having a loft conversion or a kitchen extension, he said. He added that a renovation could in fact be a precursor for a sale, explaining This is particularly true in a more competitive housing market because it will be the up to date kitchen or bathroom that will help complete the sale over other houses.