Research from Homestars.com shows more than half of Canadians are choosing to renovate rather than move in light of high mortgage rates and financial uncertainty in the housing market.

While 55 per cent of Canadians say they would choose to improve their current home rather than move, Homestars.com suggests some may struggle to book a contractor in the face of an ongoing skills shortage. This figure rises to 64 percent in the 35-54 year age group.

Geographically, Alberta was the region with the highest number of homeowners choosing to improve, not move, with 63 percent stating they would renovate over buying a new home. The lowest was British Columbia, which was still nearly half (48 percent) of homeowners choosing to stay put and make home improvements.