Homeowners looking forward
As reports begin to trickle through on the property sector’s possible upturn, homeowners seem to be looking towards the year ahead.
According to property maintenance and refurbishment company, Aspect Maintenance, the number of people opting to refurbish their properties over the next 6-12 months is on the increase.
William Davies, managing director, commented: "Many realise that property refurbishment takes time. Perhaps the increase in bookings is down to people trying to catch the first signs of the upturn, so they can maximise their property's potential when the time is right. Or, it could be down to the move or improve scenario, and homeowners choosing to renovate their property to create more pleasant and spacious surroundings, in the belief they may be stuck there for some time."
Davies states that the property refurbishment sector was "extremely slow" at the turn of 2009. This he believes was mainly down to people assessing their situations, and the impact that the recession would have. He added: "Between Summer 2008 to the beginning of March 2009, homeowners tended to be spending in the region of £15,000 – £20,000 on refurbishments – primarily for decoration work, such as a new bathroom or kitchen.
"Many clients were ‘sitting on' quotes, but now they are beginning to place their orders. A large number of these are for larger scale refurbishments, around £100,000 – £150,000. These types of refurbishment include work to the whole interior, and are not just confined to one room."
- NatWest not delivering impartial advice
- Consumer confidence shoots up
- Halifax joins Brilliant
- eGateway offers utility income
- TMA extends bridging panel with Affirmative
- Advisers divided over REITs
- Complete Conveyancing joins AToM panel
- ARLA launches scheme to protect consumers
- LV= free Critical Illness offer extended
- Buy-to-let loans down by 95 per cent
- Halifax shows price falls
Have Your Say